Looking to diversify beyond PRHSX? The mutual funds below have historically moved differently from PRHSX, 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 PRHSX
1 mutual funds have low correlation with PRHSX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.16, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.16 | 0.32 | 0.44 | 80 | Semiconductors, Technology Equities | PRHSX vs FSELX | |
| T. Rowe Price Global Stock Fund | 0.30 | 0.51 | 0.62 | 51 | Global Equities | PRHSX vs PRGSX | |
| Fidelity Total Market Index Fund | 0.34 | 0.53 | 0.61 | 63 | Large Cap Blend Equities | PRHSX vs FSKAX | |
| T. Rowe Price Total Equity Market Index Fund | 0.37 | 0.57 | 0.67 | 68 | Large Cap Blend Equities | PRHSX vs POMIX | |
| T. Rowe Price U.S. Equity Research Fund | 0.37 | 0.56 | 0.66 | 56 | Large Cap Blend Equities | PRHSX vs PRCOX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRHSX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.08, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.08 | 0.22 | 0.37 | 56 | Technology | |
| Electronic Arts Inc. | 0.10 | 0.25 | 0.33 | 96 | Communication Services | |
| PepsiCo, Inc. | 0.15 | 0.24 | 0.32 | 50 | Consumer Defensive | |
| Omega Healthcare Investors, Inc. | 0.16 | 0.27 | 0.31 | 90 | Real Estate | |
| eBay Inc. | 0.16 | 0.28 | 0.39 | 67 | Consumer Cyclical |
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