Looking to diversify beyond SPFZX? The mutual funds below have the lowest correlation with SPFZX — 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 SPFZX.
Best Diversifiers for SPFZX
1 mutual funds have low correlation with SPFZX (below 0.3), 0 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 0.28, up from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.28 | 0.13 | 0.15 | 50 | Short-Term Bond | SPFZX vs SDMZX | |
| PGIM Floating Rate Income Fund | 0.34 | 0.31 | 0.28 | 96 | Bank Loan | SPFZX vs FRFZX | |
| PGIM High Yield Fund | 0.47 | 0.36 | 0.41 | 65 | High Yield Bonds | SPFZX vs PBHAX | |
| PGIM High Yield Fund Class R6 | 0.48 | 0.38 | 0.42 | 69 | High Yield Bonds | SPFZX vs PHYQX | |
| PGIM Short Duration High Yield Income Fund | 0.50 | 0.42 | 0.43 | 68 | High Yield Bonds | SPFZX vs HYSZX |
See all 33 diversifiers for SPFZX
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Diversification Analysis
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