Looking to diversify beyond PGOAX? The mutual funds below have the lowest correlation with PGOAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PGOAX.
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 -0.04, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.04 | 0.09 | 0.18 | 61 | Commodities | PGOAX vs PQCMX | |
| PGIM Securitized Credit Fund | 0.04 | 0.02 | 0.06 | 100 | Nontraditional Bonds | PGOAX vs SCFZX | |
| PGIM Jennison MLP Fund | 0.12 | 0.41 | 0.54 | 76 | Energy Equities | PGOAX vs PRPZX | |
| PGIM National Muni Fund | 0.13 | 0.12 | 0.10 | 76 | Municipal Bonds | PGOAX vs PRNMX | |
| PGIM California Muni Income Fund | 0.15 | 0.13 | 0.10 | 69 | Municipal Bonds | PGOAX vs PBCAX |
See all 70 diversifiers for PGOAX
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