Looking to diversify beyond PWJZX? The mutual funds below have the lowest correlation with PWJZX — 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 PWJZX.
Best Diversifiers for PWJZX
7 mutual funds have low correlation with PWJZX (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Securitized Credit Fund (SCFZX) (Nontraditional Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Securitized Credit Fund | 0.08 | -0.00 | 0.02 | 99 | Nontraditional Bonds | PWJZX vs SCFZX | |
| PGIM National Muni Fund | 0.17 | 0.13 | 0.14 | 74 | Municipal Bonds | PWJZX vs PRNMX | |
| PGIM California Muni Income Fund | 0.18 | 0.13 | 0.13 | 69 | Municipal Bonds | PWJZX vs PBCAX | |
| PGIM Short Duration Muni Fund | 0.19 | 0.13 | 0.14 | 78 | Municipal Bonds | PWJZX vs PDSZX | |
| PGIM Muni High Income Fund | 0.22 | 0.15 | 0.15 | 71 | High Yield Muni | PWJZX vs PRHAX |
See all 76 diversifiers for PWJZX
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