Looking to diversify beyond TBDAX? The mutual funds below have the lowest correlation with TBDAX — 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 TBDAX.
Best Diversifiers for TBDAX
2 mutual funds have low correlation with TBDAX (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 0.26, up from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Short Duration Multi-Sector Bond Fund | 0.26 | 0.13 | 0.14 | 53 | Short-Term Bond | TBDAX vs SDMZX | |
| PGIM Short-Term Corporate Bond Fund | 0.29 | 0.15 | 0.15 | 57 | Short-Term Bond | TBDAX vs PBSMX | |
| PGIM Floating Rate Income Fund | 0.34 | 0.32 | 0.29 | 96 | Bank Loan | TBDAX vs FRFZX | |
| Thornburg Investment Income Builder Fund Class I | 0.41 | 0.46 | 0.57 | 98 | Diversified Portfolio | TBDAX vs TIBIX | |
| PGIM High Yield Fund Class R6 | 0.47 | 0.39 | 0.42 | 72 | High Yield Bonds | TBDAX vs PHYQX |
See all 35 diversifiers for TBDAX
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