Looking to diversify beyond PRCOX? The mutual funds below have historically moved differently from PRCOX, 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 PRCOX
22 mutual funds have low correlation with PRCOX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.10, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.18 | 0.31 | 87 | Energy Equities | PRCOX vs FSENX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | 0.02 | 0.08 | 0.06 | 99 | Ultrashort Bond | PRCOX vs TRSTX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.08 | 0.14 | 91 | Inflation-Protected Bonds | PRCOX vs VTAPX | |
| T. Rowe Price Short-Term Bond Fund | 0.06 | 0.07 | 0.08 | 95 | Short-Term Bond | PRCOX vs PRWBX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.09 | 0.09 | 0.10 | 58 | Municipal Bonds | PRCOX vs PRFSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRCOX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.25, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.25 | -0.04 | 0.10 | 66 | Consumer Defensive | |
| Occidental Petroleum Corporation | -0.24 | 0.05 | 0.21 | 70 | Energy | |
| Duke Energy Corporation | -0.23 | -0.05 | 0.11 | 56 | Utilities | |
| Exxon Mobil Corporation | -0.23 | 0.01 | 0.17 | 84 | Energy | |
| The Coca-Cola Company | -0.22 | 0.02 | 0.20 | 90 | Consumer Defensive |
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