Looking to diversify beyond PRMDX? The mutual funds below have the lowest correlation with PRMDX — 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 PRMDX.
Best Diversifiers for PRMDX
41 mutual funds have low correlation with PRMDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.02, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.02 | 0.17 | 0.13 | 99 | Municipal Bonds | PRMDX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.20 | 0.21 | 99 | Municipal Bonds | PRMDX vs TFCYX | |
| DFA California Municipal Real Return Portfolio | 0.06 | 0.21 | 0.20 | 95 | Municipal Bonds | PRMDX vs DCARX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.08 | 0.11 | 0.08 | 62 | Large Cap Blend Equities, Dividend | PRMDX vs PRDGX | |
| T. Rowe Price Capital Appreciation Fund | 0.10 | 0.11 | 0.10 | 51 | Diversified Portfolio | PRMDX vs PRWCX |
See all 101 diversifiers for PRMDX
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