Looking to diversify beyond PJFAX? The mutual funds below have the lowest correlation with PJFAX — 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 PJFAX.
Best Diversifiers for PJFAX
10 mutual funds have low correlation with PJFAX (below 0.3), 1 of which are negatively correlated. The least correlated is PGIM Jennison MLP Fund (PRPZX) (Energy Equities) with a 1Y correlation of -0.05, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison MLP Fund | -0.05 | 0.19 | 0.31 | 58 | Energy Equities | PJFAX vs PRPZX | |
| PGIM Securitized Credit Fund | 0.05 | 0.02 | 0.03 | 100 | Nontraditional Bonds | PJFAX vs SCFZX | |
| PGIM California Muni Income Fund | 0.14 | 0.10 | 0.08 | 70 | Municipal Bonds | PJFAX vs PBCAX | |
| PGIM National Muni Fund | 0.14 | 0.10 | 0.09 | 74 | Municipal Bonds | PJFAX vs PRNMX | |
| PGIM Short Duration Muni Fund | 0.17 | 0.08 | 0.08 | 79 | Municipal Bonds | PJFAX vs PDSZX |
See all 79 diversifiers for PJFAX
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