Looking to diversify beyond PRGSX? The mutual funds below have the lowest correlation with PRGSX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PRGSX.
Best Diversifiers for PRGSX
2 mutual funds have low correlation with PRGSX (below 0.3), 1 of which are negatively correlated. The least correlated is T. Rowe Price Dynamic Credit Fund (RPIDX) (Nontraditional Bonds) with a 1Y correlation of -0.14, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Dynamic Credit Fund | -0.14 | 0.06 | 0.00 | 78 | Nontraditional Bonds | PRGSX vs RPIDX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.19 | 0.31 | 0.48 | 51 | Global Equities | PRGSX vs CSUAX | |
| T. Rowe Price Floating Rate Fund | 0.34 | 0.31 | 0.30 | 96 | High Yield Bonds | PRGSX vs PRFRX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.42 | 0.54 | 0.66 | 76 | Global Equities | PRGSX vs RTXAX | |
| AQR Diversifying Strategies Fund Class N | 0.44 | 0.32 | 0.12 | 88 | Tactical Allocation | PRGSX vs QDSNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRGSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRGSX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.37, down from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.37 | 0.44 | 0.54 | 88 | Technology | |
| Texas Instruments Incorporated | 0.42 | 0.52 | 0.61 | 83 | Technology | |
| NVIDIA Corporation | 0.62 | 0.65 | 0.70 | 76 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.71 | 0.70 | 0.69 | 95 | Technology |
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