Looking to diversify beyond PRMTX? The mutual funds below have historically moved differently from PRMTX, 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 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 0.15, down from 0.49 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Health Sciences Opportunities Portfolio | 0.15 | 0.34 | 0.49 | 65 | Health & Biotech Equities | PRMTX vs SHSAX | |
| T. Rowe Price Health Sciences Fund | 0.23 | 0.43 | 0.58 | 74 | Health & Biotech Equities | PRMTX vs PRHSX | |
| T. Rowe Price New Era Fund | 0.28 | 0.33 | 0.43 | 77 | Energy Equities | PRMTX vs PRNEX | |
| Gabelli Media Mogul Fund | 0.35 | 0.46 | 0.62 | 78 | Communications Equities | PRMTX vs MOGLX | |
| T. Rowe Price Equity Income Fund | 0.41 | 0.46 | 0.57 | 91 | Dividend, Large Cap Value Equities | PRMTX vs PRFDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRMTX, 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 NextEra Energy, Inc. (NEE) (Utilities) with a 1Y correlation of -0.00, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NextEra Energy, Inc. | -0.00 | 0.04 | 0.23 | 77 | Utilities | |
| Prologis, Inc. | 0.16 | 0.25 | 0.39 | 90 | Real Estate | |
| Thermo Fisher Scientific Inc. | 0.18 | 0.21 | 0.38 | 65 | Healthcare | |
| Apple Inc | 0.32 | 0.40 | 0.54 | 89 | Technology |
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