Looking to diversify beyond RPIDX? The mutual funds below have historically moved differently from RPIDX, 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 RPIDX
58 mutual funds have low correlation with RPIDX (below 0.3), 21 of which are negatively correlated. The least correlated is AQR Diversifying Strategies Fund Class N (QDSNX) (Tactical Allocation) with a 1Y correlation of -0.09, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Diversifying Strategies Fund Class N | -0.09 | -0.00 | 0.01 | 92 | Tactical Allocation | RPIDX vs QDSNX | |
| Fidelity Capital & Income Fund | -0.08 | 0.11 | 0.07 | 74 | High Yield Bonds | RPIDX vs FAGIX | |
| T. Rowe Price Global Stock Fund | -0.07 | 0.07 | 0.01 | 51 | Global Equities | RPIDX vs PRGSX | |
| T. Rowe Price Dividend Growth Fund, Inc. | -0.06 | 0.06 | -0.00 | 77 | Large Cap Blend Equities, Dividend | RPIDX vs PRDGX | |
| Cliffwater Enhanced Lending Fund | -0.06 | 0.07 | 0.04 | 100 | Nontraditional Bonds | RPIDX vs CELFX |
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