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T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The investment seeks high income and some capital appreciation. The fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds. It may invest in a variety of holdings in an effort to enhance income and achieve some capital growth. Under normal conditions, the fund will invest at least 40% of its net assets (unless foreign market conditions are not deemed favorable by the investment adviser, in which case the fund would invest at least 30% of its net assets) in securities issued by governments or companies that are organized or located outside the U.S. or doing a substantial amount of business outside the U.S.

Looking to diversify beyond PRSNX? The mutual funds below have the lowest correlation with PRSNX — 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 PRSNX.

Best Diversifiers for PRSNX

16 mutual funds have low correlation with PRSNX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Science And Technology Fund (PRSCX) (Technology Equities) with a 1Y correlation of 0.20, roughly unchanged from 0.15 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PRSCX
T. Rowe Price Science And Technology Fund0.200.140.15
89
Technology EquitiesPRSNX vs PRSCX
TRVLX
T. Rowe Price Value Fund0.240.210.17
70
Large Cap Value EquitiesPRSNX vs TRVLX
FCAGX
Fidelity Advisor Small Cap Growth Fund Class A0.240.230.19
62
Small Cap Growth EquitiesPRSNX vs FCAGX
VVIAX
Vanguard Value Index Fund Admiral Shares0.240.220.17
89
Large Cap Value EquitiesPRSNX vs VVIAX
VSIAX
Vanguard Small-Cap Value Index Fund Admiral Shares0.250.250.18
53
Small Cap Value EquitiesPRSNX vs VSIAX
See all 26 diversifiers for PRSNX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PRSNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRSNX and solid risk/return profiles. The least correlated is ON Semiconductor Corporation (ON) (Technology) with a 1Y correlation of 0.11, roughly unchanged from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
ON
ON Semiconductor Corporation0.110.090.06
87
Technology
BAC
Bank of America Corporation0.130.130.07
74
Financial Services
USB
U.S. Bancorp0.130.160.10
83
Financial Services

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Diversification Analysis

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