Looking to diversify beyond PRFSX? The mutual funds below have historically moved differently from PRFSX, 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 PRFSX
17 mutual funds have low correlation with PRFSX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.02 | 0.15 | 0.15 | 99 | Municipal Bonds | PRFSX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.17 | 0.13 | 99 | Municipal Bonds | PRFSX vs FHMIX | |
| T. Rowe Price Equity Index 500 Fund | 0.08 | 0.10 | 0.11 | 62 | Large Cap Blend Equities | PRFSX vs PREIX | |
| T. Rowe Price U.S. Equity Research Fund | 0.09 | 0.09 | 0.10 | 56 | Large Cap Blend Equities | PRFSX vs PRCOX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.09 | 0.13 | 0.12 | 77 | Large Cap Blend Equities, Dividend | PRFSX vs PRDGX |
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