Looking to diversify beyond PRIDX? The mutual funds below have historically moved differently from PRIDX, 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 PRIDX
0 mutual funds have low correlation with PRIDX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price New Era Fund (PRNEX) (Energy Equities) with a 1Y correlation of 0.43, down from 0.60 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price New Era Fund | 0.43 | 0.54 | 0.60 | 77 | Energy Equities | PRIDX vs PRNEX | |
| Northern Small Cap Value Fund | 0.58 | 0.62 | 0.63 | 86 | Small Cap Value Equities | PRIDX vs NOSGX | |
| AMG Yacktman Special Opportunities Fund | 0.59 | 0.64 | 0.69 | 55 | Foreign Small & Mid Cap Equities | PRIDX vs YASLX | |
| Vanguard Wellesley Income Fund Investor Shares | 0.61 | 0.60 | 0.62 | 69 | Diversified Portfolio | PRIDX vs VWINX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.66 | 0.68 | 0.70 | 77 | Large Cap Blend Equities, Dividend | PRIDX vs PRDGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRIDX, 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 American Airlines Group Inc. (AAL) (Industrials) with a 1Y correlation of 0.48, roughly unchanged from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| American Airlines Group Inc. | 0.48 | 0.42 | 0.44 | 65 | Industrials | |
| United Airlines Holdings, Inc. | 0.48 | 0.42 | 0.43 | 70 | Industrials | |
| Delta Air Lines, Inc. | 0.48 | 0.45 | 0.47 | 86 | Industrials | |
| Southwest Airlines Co. | 0.49 | 0.41 | 0.43 | 75 | Industrials |
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