Looking to diversify beyond SDMZX? The mutual funds below have historically moved differently from SDMZX, 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 SDMZX
18 mutual funds have low correlation with SDMZX (below 0.3), 2 of which are negatively correlated. The least correlated is PGIM Quant Solutions Commodity Strategies Fund (PQCMX) (Commodities) with a 1Y correlation of -0.24, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Quant Solutions Commodity Strategies Fund | -0.24 | -0.13 | -0.04 | 78 | Commodities | SDMZX vs PQCMX | |
| PGIM Jennison MLP Fund | -0.16 | -0.02 | 0.02 | 75 | Energy Equities | SDMZX vs PRPZX | |
| PGIM Jennison Natural Resources Fund | 0.12 | 0.07 | 0.07 | 79 | Energy Equities | SDMZX vs PGNAX | |
| PGIM Jennison Natural Resources R6 | 0.12 | 0.07 | 0.07 | 78 | Natural Resources | SDMZX vs PJNQX | |
| PGIM Real Assets Fund | 0.16 | 0.25 | 0.25 | 93 | Diversified Portfolio | SDMZX vs PUDZX |
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