Looking to diversify beyond PRAFX? The mutual funds below have the lowest correlation with PRAFX — 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 PRAFX.
Best Diversifiers for PRAFX
0 mutual funds have low correlation with PRAFX (below 0.3), 0 of which are negatively correlated. The least correlated is Baron Global Advantage Fund (BGAIX) (Global Equities) with a 1Y correlation of 0.35, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Baron Global Advantage Fund | 0.35 | 0.44 | 0.51 | 68 | Global Equities | PRAFX vs BGAIX | |
| T. Rowe Price Science And Technology Fund | 0.38 | 0.41 | 0.51 | 87 | Technology Equities | PRAFX vs PRSCX | |
| T. Rowe Price Global Technology Fund I Class | 0.39 | 0.43 | 0.49 | 87 | Technology Equities, Global Equities | PRAFX vs PGTIX | |
| American Funds The New Economy Fund | 0.46 | 0.52 | 0.62 | 87 | Global Equities | PRAFX vs ANEFX | |
| Oberweis Global Opportunities Fund | 0.49 | 0.60 | 0.66 | 75 | Global Equities | PRAFX vs OBEGX |
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