Exploring frustrated spin systems using projected entangled pair states

We study the nature of the ground state of the frustrated J(1)-J(2) model and the J(1)-J(3) model using a variational algorithm based on projected entangled pair states. By investigating spin-spin correlation functions, we observe a separation in parameter regions with long- and short-range order. A direct comparison with exact diagonalizations in the subspace of short-range valence bond singlets reveals that the system is well described by states within this subset in the short-range order regions. We discuss the question whether the system forms a spin liquid, a plaquette valence bond crystal, or a columnar dimer crystal in these parameter regions.