Looking to diversify beyond PJDZX? The mutual funds below have historically moved differently from PJDZX, 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 PJDZX
4 mutual funds have low correlation with PJDZX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Strategic Volatility Premium Fund (SVPFX) (Large Cap Blend Equities) with a 1Y correlation of 0.27, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.12 | 0.10 | 97 | Large Cap Blend Equities | PJDZX vs SVPFX | |
| PGIM Short-Term Corporate Bond Fund | 0.28 | 0.19 | 0.15 | 66 | Short-Term Bond | PJDZX vs PBSMX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.28 | 0.18 | 0.15 | 63 | Short-Term Bond | PJDZX vs SDMZX | |
| PGIM Floating Rate Income Fund | 0.28 | 0.32 | 0.28 | 97 | Bank Loan | PJDZX vs FRFZX | |
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.36 | 0.47 | 0.62 | 93 | Dividend | PJDZX vs SVAAX |
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