Looking to diversify beyond PRWBX? The mutual funds below have historically moved differently from PRWBX, 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 PRWBX
16 mutual funds have low correlation with PRWBX (below 0.3), 0 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 0.04, down from 0.19 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 | 0.04 | 0.14 | 0.19 | 84 | Short-Term Bond | PRWBX vs LCCMX | |
| T. Rowe Price U.S. Equity Research Fund | 0.06 | 0.07 | 0.08 | 56 | Large Cap Blend Equities | PRWBX vs PRCOX | |
| GuidePath Absolute Return Allocation Fund | 0.07 | 0.37 | 0.47 | 69 | Short-Term Bond | PRWBX vs GPARX | |
| GuidepathConservative Income Fund | 0.07 | 0.20 | 0.34 | 99 | Short-Term Bond | PRWBX vs GPICX | |
| T. Rowe Price Equity Index 500 Fund | 0.09 | 0.08 | 0.09 | 62 | Large Cap Blend Equities | PRWBX vs PREIX |
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