Looking to diversify beyond PRVAX? The mutual funds below have the lowest correlation with PRVAX — 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 PRVAX.
Best Diversifiers for PRVAX
19 mutual funds have low correlation with PRVAX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.17 | 0.17 | 99 | Municipal Bonds | PRVAX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.10 | 0.27 | 0.34 | 100 | Municipal Bonds | PRVAX vs DFSMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.10 | 0.15 | 0.12 | 99 | Municipal Bonds | PRVAX vs FHMIX | |
| T. Rowe Price Science And Technology Fund | 0.14 | 0.08 | 0.11 | 56 | Technology Equities | PRVAX vs PRSCX | |
| BNY Mellon Dynamic Value Fund | 0.17 | 0.10 | 0.06 | 83 | Large Cap Value Equities | PRVAX vs DAGVX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRVAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRVAX and solid risk/return profiles. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.25, down from -0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.25 | -0.11 | -0.08 | 62 | Energy | |
| NVIDIA Corporation | -0.02 | 0.02 | 0.05 | 65 | Technology | |
| McKesson Corporation | 0.00 | 0.02 | 0.01 | 60 | Healthcare | |
| Tesla, Inc. | 0.03 | 0.04 | 0.04 | 63 | Consumer Cyclical | |
| Apple Inc | 0.03 | 0.04 | 0.07 | 91 | Technology |
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