Looking to diversify beyond PRDSX? The mutual funds below have historically moved differently from PRDSX, 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 PRDSX
1 mutual funds have low correlation with PRDSX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) (Ultrashort Bond) with a 1Y correlation of 0.11, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund | 0.11 | 0.03 | 0.07 | 98 | Ultrashort Bond | PRDSX vs TRBUX | |
| Columbia Dividend Income Fund Institutional 3 Clas... | 0.62 | 0.72 | 0.76 | 90 | Large Cap Value Equities, Dividend | PRDSX vs CDDYX | |
| Harbor International Fund | 0.67 | 0.67 | 0.71 | 51 | Foreign Large Cap Equities | PRDSX vs HAINX | |
| JPMorgan Mid Cap Value Fund Class R6 | 0.69 | 0.78 | 0.82 | 56 | Mid Cap Value Equities | PRDSX vs JMVYX | |
| Northern Income Equity Fund | 0.69 | 0.77 | 0.82 | 78 | Large Cap Value Equities, Dividend, Actively Managed | PRDSX vs NOIEX |
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