Looking to diversify beyond PHYQX? The mutual funds below have historically moved differently from PHYQX, 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 PHYQX
13 mutual funds have low correlation with PHYQX (below 0.3), 3 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.25, down from 0.10 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 | -0.25 | -0.04 | 0.10 | 78 | Commodities | PHYQX vs PQCMX | |
| PGIM Jennison MLP Fund | -0.05 | 0.17 | 0.27 | 75 | Energy Equities | PHYQX vs PRPZX | |
| Fairholme Focused Income Fund | -0.00 | 0.17 | 0.29 | 73 | High Yield Bonds | PHYQX vs FOCIX | |
| Cliffwater Enhanced Lending Fund | 0.04 | 0.09 | 0.08 | 100 | Nontraditional Bonds | PHYQX vs CELFX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.10 | 0.07 | 0.11 | 100 | Bank Loan, High Yield Bonds | PHYQX vs CCLFX |
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