Looking to diversify beyond PRPZX? The mutual funds below have the lowest correlation with PRPZX — 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 PRPZX.
Best Diversifiers for PRPZX
8 mutual funds have low correlation with PRPZX (below 0.3), 3 of which are negatively correlated. The least correlated is PGIM Short Duration Multi-Sector Bond Fund (SDMZX) (Short-Term Bond) with a 1Y correlation of -0.08, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | -0.08 | 0.00 | 0.03 | 62 | Short-Term Bond | PRPZX vs SDMZX | |
| PGIM Short Duration High Yield Income Fund | -0.07 | 0.20 | 0.28 | 71 | High Yield Bonds | PRPZX vs HYSZX | |
| PGIM High Yield Fund Class R6 | -0.02 | 0.20 | 0.29 | 72 | High Yield Bonds | PRPZX vs PHYQX | |
| PGIM High Yield Fund | 0.04 | 0.20 | 0.28 | 69 | High Yield Bonds | PRPZX vs PBHAX | |
| PGIM Floating Rate Income Fund | 0.05 | 0.15 | 0.22 | 95 | Bank Loan | PRPZX vs FRFZX |
See all 23 diversifiers for PRPZX
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