Looking to diversify beyond PRJZX? The mutual funds below have historically moved differently from PRJZX, 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 PRJZX
19 mutual funds have low correlation with PRJZX (below 0.3), 3 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of -0.08, down from 0.42 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 | -0.08 | 0.29 | 0.42 | 68 | Quality Factor, Global Equities | PRJZX vs GQFPX | |
| PGIM Quant Solutions Commodity Strategies Fund | -0.04 | 0.05 | 0.11 | 80 | Commodities | PRJZX vs PQCMX | |
| PGIM Jennison MLP Fund | -0.04 | 0.20 | 0.30 | 70 | Energy Equities | PRJZX vs PRPZX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.06 | 0.16 | 0.35 | 74 | Infrastructure Equities, Global Equities | PRJZX vs CSUAX | |
| BlackRock Tactical Opportunities Fund Institutiona... | 0.07 | 0.26 | 0.20 | 85 | Tactical Allocation | PRJZX vs PBAIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRJZX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.14, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.14 | 0.12 | 0.29 | 61 | Financial Services |
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