Looking to diversify beyond PRWCX? The mutual funds below have historically moved differently from PRWCX, 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 PRWCX
38 mutual funds have low correlation with PRWCX (below 0.3), 6 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.31, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.31 | -0.07 | 0.07 | 83 | Diversified Portfolio | PRWCX vs SIFAX | |
| Vanguard Energy Index Fund Admiral Shares | -0.22 | 0.11 | 0.24 | 71 | Energy Equities | PRWCX vs VENAX | |
| Fidelity Select Energy Portfolio | -0.19 | 0.14 | 0.27 | 87 | Energy Equities | PRWCX vs FSENX | |
| GQG Partners US Quality Dividend Income Fund | -0.15 | 0.32 | 0.49 | 58 | Quality Factor, Large Cap Value Equities | PRWCX vs GQHPX | |
| Fairholme Focused Income Fund | -0.05 | 0.26 | 0.44 | 70 | High Yield Bonds | PRWCX vs FOCIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRWCX, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.30, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.30 | 0.01 | 0.16 | 79 | Energy | |
| Exxon Mobil Corporation | -0.28 | 0.00 | 0.15 | 85 | Energy | |
| Devon Energy Corporation | -0.27 | 0.06 | 0.20 | 78 | Energy | |
| Occidental Petroleum Corporation | -0.26 | 0.04 | 0.16 | 68 | Energy | |
| ConocoPhillips Company | -0.25 | 0.02 | 0.16 | 73 | Energy |
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