Looking to diversify beyond PRTAX? The mutual funds below have the lowest correlation with PRTAX — 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 PRTAX.
Best Diversifiers for PRTAX
15 mutual funds have low correlation with PRTAX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (High Yield Bonds) with a 1Y correlation of 0.01, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.01 | 0.12 | 0.20 | 92 | High Yield Bonds | PRTAX vs FFRHX | |
| Federated Hermes Conservative Municipal Microshort... | 0.06 | 0.13 | 0.10 | 98 | Municipal Bonds | PRTAX vs FHMIX | |
| T. Rowe Price Science And Technology Fund | 0.07 | 0.05 | 0.08 | 91 | Technology Equities | PRTAX vs PRSCX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.07 | 0.17 | 0.17 | 98 | Municipal Bonds | PRTAX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.09 | 0.24 | 0.34 | 99 | Municipal Bonds | PRTAX vs DFSMX |
See all 26 diversifiers for PRTAX
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