Looking to diversify beyond PRCOX? The mutual funds below have the lowest correlation with PRCOX — 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 PRCOX.
Best Diversifiers for PRCOX
25 mutual funds have low correlation with PRCOX (below 0.3), 2 of which are negatively correlated. The least correlated is T. Rowe Price Dynamic Credit Fund (RPIDX) (Nontraditional Bonds) with a 1Y correlation of -0.12, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Dynamic Credit Fund | -0.12 | 0.07 | 0.00 | 78 | Nontraditional Bonds | PRCOX vs RPIDX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | -0.02 | 0.07 | 0.05 | 99 | Ultrashort Bond | PRCOX vs TRSTX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.02 | 0.08 | 0.14 | 89 | Inflation-Protected Bonds | PRCOX vs VTAPX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.03 | 0.08 | 0.10 | 74 | Municipal Bonds | PRCOX vs PRFSX | |
| Calvert Ultra-Short Duration Income Fund | 0.04 | 0.06 | 0.13 | 99 | Ultrashort Bond | PRCOX vs CULAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRCOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRCOX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.20 | -0.02 | 0.13 | 70 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.18 | 0.04 | 0.17 | 68 | Energy | |
| The Coca-Cola Company | -0.15 | 0.05 | 0.22 | 74 | Consumer Defensive | |
| Chevron Corporation | -0.15 | 0.06 | 0.19 | 68 | Energy | |
| Duke Energy Corporation | -0.14 | -0.01 | 0.11 | 62 | Utilities |
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