Looking to diversify beyond PRBLX? The mutual funds below have historically moved differently from PRBLX, 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 PRBLX
1 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 0.22, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund | 0.22 | 0.18 | 0.15 | 78 | Short-Term Bond | PRBLX vs LALDX | |
| Thompson Bond Fund | 0.41 | 0.24 | 0.19 | 91 | Short-Term Bond | PRBLX vs THOPX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.41 | 0.19 | 0.16 | 97 | Large Cap Blend Equities | PRBLX vs SVPFX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.43 | 0.58 | 0.76 | 50 | Large Cap Blend Equities | PRBLX vs QKACX | |
| Federated Hermes MDT All Cap Core Fund | 0.44 | 0.59 | 0.76 | 53 | Large Cap Blend Equities | PRBLX vs QIACX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRBLX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.11 | 0.09 | 0.26 | 90 | Consumer Defensive | |
| Apple Inc | 0.39 | 0.46 | 0.61 | 89 | Technology |
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