Looking to diversify beyond PRDGX? The mutual funds below have the lowest correlation with PRDGX — 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 PRDGX.
Best Diversifiers for PRDGX
29 mutual funds have low correlation with PRDGX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) (Ultrashort Bond) with a 1Y correlation of 0.03, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund Class I | 0.03 | 0.10 | 0.07 | 99 | Ultrashort Bond | PRDGX vs TRSTX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.11 | 0.16 | 90 | Inflation-Protected Bonds | PRDGX vs VTAPX | |
| T. Rowe Price Maryland Short-Term Tax-Free Bond Fu... | 0.08 | 0.11 | 0.08 | 78 | Municipal Bonds | PRDGX vs PRMDX | |
| Fidelity Select Energy Portfolio | 0.08 | 0.30 | 0.35 | 62 | Energy Equities | PRDGX vs FSENX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.09 | 0.13 | 0.12 | 74 | Municipal Bonds | PRDGX vs PRFSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRDGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRDGX and solid risk/return profiles. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.02, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.02 | 0.16 | 0.24 | 62 | Energy | |
| Chevron Corporation | -0.01 | 0.18 | 0.27 | 70 | Energy | |
| Devon Energy Corporation | 0.00 | 0.23 | 0.32 | 72 | Energy | |
| Exxon Mobil Corporation | 0.01 | 0.18 | 0.28 | 75 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | 0.01 | 0.17 | 0.17 | 80 | Energy |
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