Looking to diversify beyond PRGSX? The mutual funds below have historically moved differently from PRGSX, 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 PRGSX
4 mutual funds have low correlation with PRGSX (below 0.3), 1 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of -0.03, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | -0.03 | 0.36 | 0.51 | 70 | Quality Factor, Global Equities | PRGSX vs GQFPX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.12 | 0.28 | 0.45 | 79 | Infrastructure Equities, Global Equities | PRGSX vs CSUAX | |
| SEI Institutional Managed Trust Global Managed Vol... | 0.21 | 0.47 | 0.60 | 53 | Global Equities, Low Volatility | PRGSX vs SVTAX | |
| Nuveen Global Infrastructure Fund Class A | 0.22 | 0.36 | 0.54 | 66 | Infrastructure Equities, Global Equities | PRGSX vs FGIAX | |
| T. Rowe Price Health Sciences Fund | 0.31 | 0.52 | 0.62 | 74 | Health & Biotech Equities | PRGSX vs PRHSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRGSX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.33, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.33 | 0.40 | 0.53 | 89 | Technology | |
| Texas Instruments Incorporated | 0.51 | 0.54 | 0.61 | 82 | Technology | |
| NVIDIA Corporation | 0.65 | 0.65 | 0.71 | 56 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.75 | 0.71 | 0.70 | 87 | Technology |
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