Looking to diversify beyond PHSZX? The mutual funds below have the lowest correlation with PHSZX — 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 PHSZX.
Best Diversifiers for PHSZX
2 mutual funds have low correlation with PHSZX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Floating Rate Income Fund (FRFZX) (Bank Loan) with a 1Y correlation of 0.27, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.27 | 0.21 | 0.20 | 94 | Bank Loan | PHSZX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.29 | 0.21 | 0.19 | 65 | Short-Term Bond | PHSZX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.33 | 0.24 | 0.21 | 56 | Short-Term Bond | PHSZX vs PBSMX | |
| PGIM High Yield Fund | 0.40 | 0.38 | 0.37 | 71 | High Yield Bonds | PHSZX vs PBHAX | |
| PGIM High Yield Fund Class R6 | 0.41 | 0.39 | 0.37 | 75 | High Yield Bonds | PHSZX vs PHYQX |
See all 18 diversifiers for PHSZX
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Diversification Analysis
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