Looking to diversify beyond PRPFX? The mutual funds below have historically moved differently from PRPFX, 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 PRPFX
20 mutual funds have low correlation with PRPFX (below 0.3), 2 of which are negatively correlated. The least correlated is AQR Style Premia Alternative Fund Class N (QSPNX) (Multistrategy) with a 1Y correlation of -0.20, roughly unchanged from -0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund Class N | -0.20 | -0.20 | -0.19 | 89 | Multistrategy | PRPFX vs QSPNX | |
| Miller Market Neutral Income Fund Class I | -0.11 | — | — | 99 | Equity Market Neutral | PRPFX vs MMNIX | |
| Fairholme Focused Income Fund | 0.02 | 0.30 | 0.50 | 73 | High Yield Bonds | PRPFX vs FOCIX | |
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.11 | 0.39 | 66 | Diversified Portfolio | PRPFX vs MHELX | |
| Goldman Sachs Energy Infrastructure Fund Class P | 0.04 | 0.38 | 0.53 | 82 | Infrastructure Equities, MLPs | PRPFX vs GAMPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRPFX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.18, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.18 | -0.01 | 0.10 | 66 | Consumer Defensive | |
| The Coca-Cola Company | -0.15 | 0.00 | 0.13 | 90 | Consumer Defensive | |
| Chubb Limited | -0.14 | 0.01 | 0.17 | 89 | Financial Services | |
| Duke Energy Corporation | -0.07 | 0.05 | 0.14 | 56 | Utilities | |
| Enterprise Products Partners L.P. | -0.05 | 0.22 | 0.37 | 89 | Energy |
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