Looking to diversify beyond PRGMX? The mutual funds below have historically moved differently from PRGMX, 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 PRGMX
5 mutual funds have low correlation with PRGMX (below 0.3), 0 of which are negatively correlated. The least correlated is GMO U.S. Treasury Fund (GUSTX) (Government Bonds) with a 1Y correlation of 0.12, 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 |
|---|---|---|---|---|---|---|---|
| GMO U.S. Treasury Fund | 0.12 | 0.09 | 0.07 | 99 | Government Bonds | PRGMX vs GUSTX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.16 | 0.18 | 0.18 | 90 | High Yield Bonds | PRGMX vs PRFRX | |
| Federated Hermes Adjustable Rate Fund | 0.24 | 0.52 | 0.51 | 99 | Government Bonds | PRGMX vs FEUGX | |
| Putnam Large Cap Value Fund | 0.27 | 0.24 | 0.19 | 92 | Large Cap Value Equities | PRGMX vs PEYAX | |
| T. Rowe Price Equity Index 500 Fund | 0.30 | 0.22 | 0.21 | 62 | Large Cap Blend Equities | PRGMX vs PREIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRGMX, 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 ON Semiconductor Corporation (ON) (Technology) with a 1Y correlation of 0.12, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ON Semiconductor Corporation | 0.12 | 0.10 | 0.10 | 68 | Technology | |
| Bank of America Corporation | 0.12 | 0.08 | 0.06 | 81 | Financial Services | |
| U.S. Bancorp | 0.15 | 0.13 | 0.10 | 88 | Financial Services |
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