Looking to diversify beyond TAIBX? The mutual funds below have historically moved differently from TAIBX, 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 TAIBX
1 mutual funds have low correlation with TAIBX (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 0.19, roughly unchanged from 0.12 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 | 0.19 | 0.13 | 0.12 | 97 | Bank Loan | TAIBX vs FRFZX | |
| PGIM Jennison Small Company Fund | 0.35 | 0.23 | 0.15 | 67 | Small Cap Growth Equities | TAIBX vs PGOAX | |
| PGIM 60/40 Allocation Fund | 0.40 | 0.37 | 0.31 | 76 | Diversified Portfolio | TAIBX vs PALDX | |
| PGIM High Yield Fund | 0.61 | 0.60 | 0.56 | 63 | High Yield Bonds | TAIBX vs PBHAX | |
| PGIM Short Duration High Yield Income Fund | 0.65 | 0.65 | 0.56 | 67 | High Yield Bonds | TAIBX vs HYSZX |
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