Looking to diversify beyond PRVBX? The mutual funds below have historically moved differently from PRVBX, 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 PRVBX
4 mutual funds have low correlation with PRVBX (below 0.3), 1 of which are negatively correlated. The least correlated is Leader Short Term High Yield Bond Fund (LCCMX) (Short-Term Bond) with a 1Y correlation of -0.01, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Leader Short Term High Yield Bond Fund | -0.01 | 0.10 | 0.24 | 84 | Short-Term Bond | PRVBX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.17 | 0.09 | 0.36 | 100 | Short-Term Bond | PRVBX vs DFCFX | |
| GuidePath Absolute Return Allocation Fund | 0.23 | 0.55 | 0.62 | 69 | Short-Term Bond | PRVBX vs GPARX | |
| Holbrook Income Fund | 0.29 | 0.38 | 0.46 | 98 | Short-Term Bond | PRVBX vs HOBEX | |
| GuidepathConservative Income Fund | 0.32 | 0.36 | 0.44 | 99 | Short-Term Bond | PRVBX vs GPICX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRVBX, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.27, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.27 | -0.09 | -0.04 | 70 | Energy | |
| McKesson Corporation | -0.02 | 0.01 | 0.03 | 67 | Healthcare | |
| Berkshire Hathaway Inc. | 0.05 | 0.16 | 0.16 | 61 | Financial Services | |
| Visa Inc. | 0.11 | 0.16 | 0.18 | 53 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.15 | 0.10 | 0.16 | 80 | Technology |
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