Looking to diversify beyond PRMTX? The mutual funds below have the lowest correlation with PRMTX — 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 PRMTX.
Best Diversifiers for PRMTX
3 mutual funds have low correlation with PRMTX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Health Sciences Opportunities Portfolio (SHSAX) (Health & Biotech Equities) with a 1Y correlation of 0.17, down from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Health Sciences Opportunities Portfolio | 0.17 | 0.34 | 0.50 | 53 | Health & Biotech Equities | PRMTX vs SHSAX | |
| T. Rowe Price New Era Fund | 0.24 | 0.33 | 0.43 | 58 | Energy Equities | PRMTX vs PRNEX | |
| T. Rowe Price Health Sciences Fund | 0.25 | 0.43 | 0.59 | 68 | Health & Biotech Equities | PRMTX vs PRHSX | |
| Gabelli Media Mogul Fund | 0.39 | 0.48 | 0.63 | 61 | Communications Equities | PRMTX vs MOGLX | |
| T. Rowe Price Equity Income Fund | 0.42 | 0.47 | 0.58 | 82 | Large Cap Value Equities | PRMTX vs PRFDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRMTX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRMTX and solid risk/return profiles. The least correlated is NextEra Energy, Inc. (NEE) (Utilities) with a 1Y correlation of -0.02, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NextEra Energy, Inc. | -0.02 | 0.04 | 0.23 | 72 | Utilities | |
| Prologis, Inc. | 0.15 | 0.25 | 0.38 | 86 | Real Estate | |
| Thermo Fisher Scientific Inc. | 0.17 | 0.21 | 0.38 | 64 | Healthcare | |
| MSCI Inc. | 0.23 | 0.35 | 0.57 | 50 | Financial Services | |
| Apple Inc | 0.35 | 0.46 | 0.61 | 90 | Technology |
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Build a portfolio that complements PRMTX
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Analyze a portfolio with PRMTX