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T. Rowe Price California Tax Free Bond Fund (PRXCX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund will invest so that, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) are invested in bonds that pay interest exempt from federal and California state income taxes, and at least 80% of the fund's income is expected to be exempt from federal and California state income taxes.

Looking to diversify beyond PRXCX? The mutual funds below have the lowest correlation with PRXCX — 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 PRXCX.

Best Diversifiers for PRXCX

19 mutual funds have low correlation with PRXCX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.21 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
DCARX
DFA California Municipal Real Return Portfolio-0.020.180.21
95
Municipal BondsPRXCX vs DCARX
DMREX
DFA Municipal Real Return Portfolio0.060.210.22
94
Municipal BondsPRXCX vs DMREX
DFSMX
DFA Short Term Municipal Bond Portfolio0.060.240.34
99
Municipal BondsPRXCX vs DFSMX
TFCYX
SEI Institutional Managed Trust Tax-Free Conservat...0.110.200.19
99
Municipal BondsPRXCX vs TFCYX
PRSCX
T. Rowe Price Science And Technology Fund0.120.080.11
87
Technology EquitiesPRXCX vs PRSCX
See all 41 diversifiers for PRXCX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PRXCX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRXCX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.03, roughly unchanged from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation-0.030.020.06
76
Technology
AAPL
Apple Inc0.060.070.08
88
Technology

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Diversification Analysis

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