Looking to diversify beyond PRSNX? The mutual funds below have historically moved differently from PRSNX, 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 PRSNX
7 mutual funds have low correlation with PRSNX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Two Year Global Fixed Income Portfolio (DFGFX) (Global Bonds) with a 1Y correlation of 0.22, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Two Year Global Fixed Income Portfolio | 0.22 | 0.06 | 0.31 | 100 | Global Bonds | PRSNX vs DFGFX | |
| T. Rowe Price Value Fund | 0.25 | 0.22 | 0.19 | 91 | Large Cap Value Equities | PRSNX vs TRVLX | |
| Vanguard Value Index Fund Admiral Shares | 0.26 | 0.22 | 0.18 | 94 | Large Cap Value Equities | PRSNX vs VVIAX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.27 | 0.24 | 0.21 | 75 | Large Cap Blend Equities, Dividend | PRSNX vs PRDGX | |
| Putnam Large Cap Value Fund | 0.27 | 0.24 | 0.18 | 92 | Large Cap Value Equities | PRSNX vs PEYAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRSNX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is ON Semiconductor Corporation (ON) (Technology) with a 1Y correlation of 0.12, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ON Semiconductor Corporation | 0.12 | 0.08 | 0.06 | 67 | Technology | |
| Bank of America Corporation | 0.16 | 0.13 | 0.09 | 85 | Financial Services | |
| U.S. Bancorp | 0.17 | 0.16 | 0.12 | 90 | Financial Services |
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