Looking to diversify beyond PRPIX? The mutual funds below have historically moved differently from PRPIX, 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 PRPIX
1 mutual funds have low correlation with PRPIX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Institutional Floating Rate Fund (RPIFX) (Bank Loan) with a 1Y correlation of 0.26, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Institutional Floating Rate Fund | 0.26 | 0.27 | 0.25 | 79 | Bank Loan | PRPIX vs RPIFX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.33 | 0.29 | 0.23 | 77 | Large Cap Blend Equities, Dividend | PRPIX vs PRDGX | |
| T. Rowe Price Equity Index 500 Fund | 0.37 | 0.26 | 0.21 | 62 | Large Cap Blend Equities | PRPIX vs PREIX | |
| T. Rowe Price U.S. Equity Research Fund | 0.38 | 0.25 | 0.21 | 56 | Large Cap Blend Equities | PRPIX vs PRCOX | |
| Miller Intermediate Bond Fund | 0.39 | 0.32 | 0.27 | 95 | Corporate Bonds | PRPIX vs MIFIX |
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