Looking to diversify beyond PRPFX? The mutual funds below have the lowest correlation with PRPFX — 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 PRPFX.
Best Diversifiers for PRPFX
18 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 -0.25, roughly unchanged from -0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund Class N | -0.25 | -0.20 | -0.19 | 52 | Multistrategy | PRPFX vs QSPNX | |
| Miller Market Neutral Income Fund Class I | -0.12 | — | — | 99 | Equity Market Neutral | PRPFX vs MMNIX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.15 | 0.42 | 63 | Diversified Portfolio | PRPFX vs MHELX | |
| AQR Diversified Arbitrage Fund Class N | 0.12 | 0.20 | 0.35 | 99 | Multistrategy | PRPFX vs ADANX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.15 | 0.23 | 0.32 | 94 | Inflation-Protected Bonds | PRPFX vs VTAPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRPFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRPFX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.11 | 0.04 | 0.14 | 67 | Consumer Defensive | |
| The Coca-Cola Company | -0.07 | 0.04 | 0.14 | 63 | Consumer Defensive | |
| Duke Energy Corporation | -0.01 | 0.08 | 0.14 | 52 | Utilities | |
| Walmart Inc. | -0.01 | 0.13 | 0.20 | 59 | Consumer Defensive | |
| Verizon Communications Inc. | -0.00 | 0.09 | 0.16 | 62 | Communication Services |
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Build a portfolio that complements PRPFX
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