Looking to diversify beyond PJFAX? The mutual funds below have historically moved differently from PJFAX, 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 PJFAX
14 mutual funds have low correlation with PJFAX (below 0.3), 2 of which are negatively correlated. The least correlated is PGIM Jennison MLP Fund (PRPZX) (Energy Equities) with a 1Y correlation of -0.12, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison MLP Fund | -0.12 | 0.17 | 0.29 | 70 | Energy Equities | PJFAX vs PRPZX | |
| PGIM Quant Solutions Commodity Strategies Fund | -0.06 | 0.04 | 0.10 | 80 | Commodities | PJFAX vs PQCMX | |
| PGIM US Real Estate Fund | 0.06 | 0.26 | 0.42 | 76 | REIT | PJFAX vs PJEZX | |
| PGIM Securitized Credit Fund | 0.11 | 0.04 | 0.04 | 100 | Nontraditional Bonds | PJFAX vs SCFZX | |
| PGIM Real Assets Fund | 0.16 | 0.32 | 0.41 | 92 | Diversified Portfolio | PJFAX vs PUDZX |
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