Looking to diversify beyond PNAIX? The mutual funds below have historically moved differently from PNAIX, 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 PNAIX
0 mutual funds have low correlation with PNAIX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price New Era Fund (PRNEX) (Energy Equities) with a 1Y correlation of 0.34, down from 0.55 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price New Era Fund | 0.34 | 0.43 | 0.55 | 77 | Energy Equities | PNAIX vs PRNEX | |
| T. Rowe Price Health Sciences Fund | 0.36 | 0.56 | 0.67 | 74 | Health & Biotech Equities | PNAIX vs PRHSX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.37 | 0.30 | 0.28 | 90 | High Yield Bonds | PNAIX vs PRFRX | |
| T. Rowe Price Floating Rate Fund Class I | 0.40 | 0.34 | 0.30 | 72 | Bank Loan | PNAIX vs TFAIX | |
| AQR Diversifying Strategies Fund Class N | 0.42 | 0.33 | 0.10 | 92 | Tactical Allocation | PNAIX vs QDSNX |
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