Looking to diversify beyond PRNMX? The mutual funds below have historically moved differently from PRNMX, 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 PRNMX
16 mutual funds have low correlation with PRNMX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of 0.04, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | 0.04 | 0.21 | 0.25 | 94 | Municipal Bonds | PRNMX vs DMREX | |
| DFA California Municipal Real Return Portfolio | 0.08 | 0.22 | 0.25 | 91 | Municipal Bonds | PRNMX vs DCARX | |
| PGIM Jennison Small Company Fund | 0.13 | 0.11 | 0.10 | 67 | Small Cap Growth Equities | PRNMX vs PGOAX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.15 | 0.26 | 0.38 | 100 | Municipal Bonds | PRNMX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 0.23 | 0.28 | 0.29 | 100 | Municipal Bonds | PRNMX vs ATOIX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PRNMX
Add PRNMX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PRNMX