Looking to diversify beyond PRSIX? The mutual funds below have historically moved differently from PRSIX, 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 PRSIX
2 mutual funds have low correlation with PRSIX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.22, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.22 | 0.01 | 0.12 | 83 | Diversified Portfolio | PRSIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.05 | 0.17 | 0.48 | 66 | Diversified Portfolio | PRSIX vs MHELX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.39 | 0.35 | 0.35 | 90 | High Yield Bonds | PRSIX vs PRFRX | |
| Concorde Wealth Management Fund | 0.40 | 0.61 | 0.68 | 83 | Diversified Portfolio | PRSIX vs CONWX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.40 | 0.61 | 0.63 | 91 | Diversified Portfolio | PRSIX vs FSRKX |
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