Looking to diversify beyond PRSIX? The mutual funds below have the lowest correlation with PRSIX — 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 PRSIX.
Best Diversifiers for PRSIX
3 mutual funds have low correlation with PRSIX (below 0.3), 2 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 -0.15, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.15 | 0.07 | 0.15 | 73 | Diversified Portfolio | PRSIX vs SIFAX | |
| T. Rowe Price Dynamic Credit Fund | -0.09 | 0.07 | 0.02 | 76 | Nontraditional Bonds | PRSIX vs RPIDX | |
| MH Elite Small Cap Fund of Funds Fund | 0.08 | 0.20 | 0.50 | 64 | Diversified Portfolio | PRSIX vs MHELX | |
| T. Rowe Price Floating Rate Fund | 0.34 | 0.32 | 0.34 | 96 | High Yield Bonds | PRSIX vs PRFRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.42 | 0.62 | 0.64 | 96 | Diversified Portfolio | PRSIX vs FSIRX |
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