Looking to diversify beyond PTEZX? The mutual funds below have historically moved differently from PTEZX, 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 PTEZX
0 mutual funds have low correlation with PTEZX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Strategic Volatility Premium Fund (SVPFX) (Large Cap Blend Equities) with a 1Y correlation of 0.30, up from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Strategic Volatility Premium Fund | 0.30 | 0.14 | 0.11 | 97 | Large Cap Blend Equities | PTEZX vs SVPFX | |
| PGIM Floating Rate Income Fund | 0.32 | 0.35 | 0.32 | 97 | Bank Loan | PTEZX vs FRFZX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.32 | 0.18 | 0.16 | 63 | Short-Term Bond | PTEZX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.34 | 0.19 | 0.16 | 66 | Short-Term Bond | PTEZX vs PBSMX | |
| PGIM High Yield Fund Class R6 | 0.51 | 0.44 | 0.46 | 65 | High Yield Bonds | PTEZX vs PHYQX |
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