Looking to diversify beyond PRFHX? The mutual funds below have historically moved differently from PRFHX, 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 PRFHX
3 mutual funds have low correlation with PRFHX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Equity Index 500 Fund (PREIX) (Large Cap Blend Equities) with a 1Y correlation of 0.17, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Equity Index 500 Fund | 0.17 | 0.14 | 0.13 | 62 | Large Cap Blend Equities | PRFHX vs PREIX | |
| T. Rowe Price U.S. Equity Research Fund | 0.19 | 0.14 | 0.13 | 56 | Large Cap Blend Equities | PRFHX vs PRCOX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.20 | 0.17 | 0.14 | 77 | Large Cap Blend Equities, Dividend | PRFHX vs PRDGX | |
| PIMCO Income Fund Institutional Class | 0.58 | 0.60 | 0.55 | 52 | Multisector Bonds | PRFHX vs PIMIX | |
| First Eagle Short Duration High Yield Municipal Fu... | 0.59 | — | — | 73 | High Yield Muni | PRFHX vs FDUAX |
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