Looking to diversify beyond PRDGX? The mutual funds below have historically moved differently from PRDGX, 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 PRDGX
27 mutual funds have low correlation with PRDGX (below 0.3), 1 of which are negatively correlated. The least correlated is MFS Commodity Strategy Fund (MCSFX) (Commodities) with a 1Y correlation of -0.02, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS Commodity Strategy Fund | -0.02 | 0.06 | 0.14 | 72 | Commodities | PRDGX vs MCSFX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.02 | 0.10 | 0.15 | 91 | Inflation-Protected Bonds | PRDGX vs VTAPX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | 0.03 | 0.09 | 0.07 | 99 | Ultrashort Bond | PRDGX vs TRSTX | |
| Fidelity Select Energy Portfolio | 0.07 | 0.29 | 0.37 | 87 | Energy Equities | PRDGX vs FSENX | |
| T. Rowe Price Maryland Short-Term Tax-Free Bond Fu... | 0.07 | 0.11 | 0.08 | 55 | Municipal Bonds | PRDGX vs PRMDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRDGX, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.09, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.09 | 0.13 | 0.23 | 68 | Energy | |
| Devon Energy Corporation | -0.05 | 0.20 | 0.31 | 78 | Energy | |
| Chevron Corporation | -0.05 | 0.16 | 0.26 | 79 | Energy | |
| Exxon Mobil Corporation | -0.03 | 0.17 | 0.27 | 85 | Energy | |
| ConocoPhillips Company | -0.02 | 0.17 | 0.27 | 73 | Energy |
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