Looking to diversify beyond PAAIX? The mutual funds below have historically moved differently from PAAIX, 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 PAAIX
4 mutual funds have low correlation with PAAIX (below 0.3), 2 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of -0.14, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | -0.14 | 0.06 | 0.04 | 85 | Tactical Allocation | PAAIX vs PBAIX | |
| BlackRock Tactical Opportunities Fund | -0.14 | 0.07 | 0.04 | 83 | Multistrategy | PAAIX vs PCBAX | |
| PIMCO Commodity Real Return Strategy Fund | 0.16 | 0.29 | 0.40 | 69 | Commodities | PAAIX vs PCRIX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.25 | 0.33 | 0.50 | 98 | PAAIX vs CMNIX | ||
| Potomac Defensive Bull Fund | 0.35 | 0.35 | 0.35 | 84 | Tactical Allocation | PAAIX vs CRDBX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PAAIX, 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 Pathward Financial, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.27, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc. | 0.27 | 0.33 | 0.41 | 61 | Financial Services |
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