Looking to diversify beyond PMJL? The ETFs below have the lowest correlation with PMJL — 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 PMJL.
Best Diversifiers for PMJL
2 ETFs have low correlation with PMJL (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Ultra Short Bond ETF (PULS) (Ultrashort Bond) with a 1Y correlation of 0.26, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Ultra Short Bond ETF | 0.26 | 0.26 | 0.26 | 99 | Ultrashort Bond | PMJL vs PULS | |
| PGIM Short Duration Multi-Sector Bond ETF | 0.29 | — | — | 88 | Multisector Bonds | PMJL vs PSDM | |
| PGIM Floating Rate Income ETF | 0.34 | 0.34 | — | 92 | Bank Loan | PMJL vs PFRL | |
| PGIM AAA CLO ETF | 0.35 | 0.35 | — | 99 | CLO | PMJL vs PAAA | |
| PGIM Short Duration High Yield ETF | 0.51 | — | — | 75 | High Yield Bonds | PMJL vs PSH |
See all 41 diversifiers for PMJL
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