Looking to diversify beyond PRAFX? The mutual funds below have historically moved differently from PRAFX, 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 PRAFX
0 mutual funds have low correlation with PRAFX (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 0.42, down from 0.73 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 | 0.42 | 0.61 | 0.73 | 68 | Quality Factor, Global Equities | PRAFX vs GQFPX | |
| American Funds The New Economy Fund Class A | 0.48 | 0.51 | 0.61 | 69 | Global Equities, Actively Managed | PRAFX vs ANEFX | |
| American Funds The New Economy Fund Class R-3 | 0.49 | 0.51 | 0.61 | 65 | Global Equities | PRAFX vs RNGCX | |
| Hotchkis & Wiley Global Value Fund | 0.49 | 0.66 | 0.76 | 69 | Global Equities | PRAFX vs HWGIX | |
| Vanguard Global Minimum Volatility Fund Investor S... | 0.50 | 0.60 | 0.66 | 80 | Global Equities, Low Volatility | PRAFX vs VMVFX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PRAFX
Add PRAFX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PRAFX