Looking to diversify beyond PRPDX? The mutual funds below have historically moved differently from PRPDX, 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 PRPDX
4 mutual funds have low correlation with PRPDX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.04, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.11 | 0.40 | 68 | Diversified Portfolio | PRPDX vs MHELX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.20 | 0.31 | 0.40 | 83 | Diversified Portfolio | PRPDX vs SIFAX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.27 | 0.30 | 0.37 | 99 | Diversified Portfolio | PRPDX vs STDAX | |
| Permanent Portfolio Short-Term Treasury Portfolio | 0.30 | 0.19 | 0.22 | 99 | Ultrashort Bond | PRPDX vs PRTBX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.32 | 0.32 | 0.36 | 71 | Short-Term Bond | PRPDX vs PRVBX |
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