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
12 mutual funds have low correlation with PJFAX (below 0.3), 1 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.11, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.11 | 0.04 | 0.10 | 77 | Commodities | PJFAX vs PQCMX | |
| PGIM Securitized Credit Fund | 0.07 | 0.03 | 0.03 | 99 | Nontraditional Bonds | PJFAX vs SCFZX | |
| PGIM California Muni Income Fund | 0.12 | 0.09 | 0.07 | 67 | Municipal Bonds | PJFAX vs PBCAX | |
| PGIM National Muni Fund | 0.14 | 0.10 | 0.09 | 72 | Municipal Bonds | PJFAX vs PRNMX | |
| PGIM Short-Term Corporate Bond Fund Class Z | 0.16 | 0.12 | 0.14 | 58 | Short-Term Bond | PJFAX vs PIFZX |
See all 82 diversifiers for PJFAX
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