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
24 mutual funds have low correlation with PRCOX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.08, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.08 | 0.19 | 0.32 | 62 | Energy Equities | PRCOX vs FSENX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | -0.02 | 0.08 | 0.05 | 99 | Ultrashort Bond | PRCOX vs TRSTX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.09 | 0.14 | 90 | Inflation-Protected Bonds | PRCOX vs VTAPX | |
| T. Rowe Price Short-Term Bond Fund | 0.05 | 0.08 | 0.08 | 94 | Short-Term Bond | PRCOX vs PRWBX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.06 | 0.09 | 0.10 | 74 | Municipal Bonds | PRCOX vs PRFSX |
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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 -0.23, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.23 | -0.03 | 0.12 | 81 | Consumer Defensive | |
| The Coca-Cola Company | -0.20 | 0.03 | 0.21 | 83 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.18 | 0.03 | 0.17 | 75 | Energy | |
| Duke Energy Corporation | -0.17 | -0.02 | 0.10 | 66 | Utilities | |
| Waste Management, Inc. | -0.17 | 0.09 | 0.24 | 53 | Industrials |
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