Looking to diversify beyond PRBLX? The mutual funds below have the lowest correlation with PRBLX — 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 PRBLX.
Best Diversifiers for PRBLX
3 mutual funds have low correlation with PRBLX (below 0.3), 0 of which are negatively correlated. The least correlated is Lord Abbett Short Duration Income Fund (LALDX) (Short-Term Bond) with a 1Y correlation of 0.20, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund | 0.20 | 0.17 | 0.14 | 69 | Short-Term Bond | PRBLX vs LALDX | |
| Federated Hermes MDT All Cap Core Fund | 0.30 | 0.58 | 0.76 | 60 | Large Cap Blend Equities | PRBLX vs QIACX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.30 | 0.58 | 0.76 | 60 | Large Cap Blend Equities | PRBLX vs QKACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.31 | 0.15 | 0.15 | 70 | Large Cap Blend Equities | PRBLX vs SVPFX | |
| Thompson Bond Fund | 0.35 | 0.22 | 0.17 | 92 | Short-Term Bond | PRBLX vs THOPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRBLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRBLX and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.03, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.03 | 0.12 | 0.30 | 63 | Consumer Defensive | |
| Apple Inc | 0.41 | 0.44 | 0.57 | 90 | Technology |
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