Looking to diversify beyond TRRJX? The mutual funds below have historically moved differently from TRRJX, 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 TRRJX
14 mutual funds have low correlation with TRRJX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) (Ultrashort Bond) with a 1Y correlation of 0.04, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund Class I | 0.04 | 0.10 | 0.09 | 99 | Ultrashort Bond | TRRJX vs TRSTX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.14 | 0.13 | 0.14 | 58 | Municipal Bonds | TRRJX vs PRFSX | |
| T. Rowe Price Maryland Short-Term Tax-Free Bond Fu... | 0.17 | 0.11 | 0.11 | 67 | Municipal Bonds | TRRJX vs PRMDX | |
| T. Rowe Price Short-Term Bond Fund | 0.17 | 0.15 | 0.15 | 95 | Short-Term Bond | TRRJX vs PRWBX | |
| T. Rowe Price New York Tax Free Bond Fund | 0.25 | 0.20 | 0.17 | 87 | Municipal Bonds | TRRJX vs PRNYX |
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