Looking to diversify beyond PGROX? The mutual funds below have historically moved differently from PGROX, 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 PGROX
4 mutual funds have low correlation with PGROX (below 0.3), 0 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of 0.10, down from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | 0.10 | 0.44 | 0.57 | 70 | Quality Factor, Global Equities | PGROX vs GQFPX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.19 | 0.34 | 0.52 | 79 | Infrastructure Equities, Global Equities | PGROX vs CSUAX | |
| Nuveen Global Infrastructure Fund Class A | 0.25 | 0.41 | 0.59 | 66 | Infrastructure Equities, Global Equities | PGROX vs FGIAX | |
| BNY Mellon AMT-Free Municipal Bond Fund | 0.28 | 0.17 | 0.14 | 88 | Municipal Bonds | PGROX vs DRMBX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.33 | 0.34 | 0.38 | 90 | Multistrategy, Systematic Trend, Global Equities | PGROX vs MBXIX |
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