Looking to diversify beyond PRHAX? The mutual funds below have the lowest correlation with PRHAX — 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 PRHAX.
Best Diversifiers for PRHAX
3 mutual funds have low correlation with PRHAX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Jennison Small Company Fund (PGOAX) (Small Cap Growth Equities) with a 1Y correlation of 0.18, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Jennison Small Company Fund | 0.18 | 0.14 | 0.10 | 58 | Small Cap Growth Equities | PRHAX vs PGOAX | |
| PGIM Floating Rate Income Fund | 0.25 | 0.25 | 0.25 | 96 | Bank Loan | PRHAX vs FRFZX | |
| PGIM 60/40 Allocation Fund | 0.26 | 0.25 | 0.20 | 81 | Diversified Portfolio | PRHAX vs PALDX | |
| PGIM Short Duration High Yield Income Fund | 0.49 | 0.53 | 0.49 | 68 | High Yield Bonds | PRHAX vs HYSZX | |
| PGIM High Yield Fund | 0.51 | 0.51 | 0.47 | 65 | High Yield Bonds | PRHAX vs PBHAX |
See all 24 diversifiers for PRHAX
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