Looking to diversify beyond PGOAX? The mutual funds below have historically moved differently from PGOAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PGOAX
10 mutual funds have low correlation with PGOAX (below 0.3), 1 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.06, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.06 | 0.08 | 0.17 | 78 | Commodities | PGOAX vs PQCMX | |
| PGIM Securitized Credit Fund | 0.07 | 0.03 | 0.06 | 100 | Nontraditional Bonds | PGOAX vs SCFZX | |
| PGIM Jennison MLP Fund | 0.11 | 0.40 | 0.53 | 75 | Energy Equities | PGOAX vs PRPZX | |
| PGIM National Muni Fund | 0.14 | 0.12 | 0.10 | 70 | Municipal Bonds | PGOAX vs PRNMX | |
| PGIM California Muni Income Fund | 0.15 | 0.13 | 0.10 | 62 | Municipal Bonds | PGOAX vs PBCAX |
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