Looking to diversify beyond PSIAX? The mutual funds below have historically moved differently from PSIAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PSIAX
0 mutual funds have low correlation with PSIAX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Floating Rate Income Fund (FRFZX) (Bank Loan) with a 1Y correlation of 0.33, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Floating Rate Income Fund | 0.33 | 0.35 | 0.33 | 97 | Bank Loan | PSIAX vs FRFZX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.34 | 0.15 | 0.13 | 97 | Large Cap Blend Equities | PSIAX vs SVPFX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.35 | 0.20 | 0.18 | 63 | Short-Term Bond | PSIAX vs SDMZX | |
| PGIM High Yield Fund | 0.53 | 0.43 | 0.46 | 63 | High Yield Bonds | PSIAX vs PBHAX | |
| North Square Preferred and Income Securities Fund | 0.53 | 0.36 | 0.41 | 59 | Preferred Stock | PSIAX vs ORDNX |
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