Looking to diversify beyond PAAKX? The mutual funds below have the lowest correlation with PAAKX — 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 PAAKX.
Best Diversifiers for PAAKX
1 mutual funds have low correlation with PAAKX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Ultra Short Duration Income Fund (PSDYX) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.12 | 0.10 | 0.06 | 98 | Ultrashort Bond | PAAKX vs PSDYX | |
| Dimensional Retirement Income Fund | 0.76 | 0.75 | 0.72 | 77 | Target Retirement Date | PAAKX vs TDIFX | |
| Fidelity Managed Retirement 2010 Fund Class K6 | 0.79 | 0.71 | 0.71 | 70 | Target Retirement Date | PAAKX vs FRQHX | |
| Fidelity Advisor Managed Retirement 2010 Fund Clas... | 0.79 | 0.72 | 0.71 | 65 | Target Retirement Date | PAAKX vs FRQIX | |
| Fidelity Managed Retirement Income Fund | 0.79 | 0.70 | 0.68 | 66 | Target Retirement Date | PAAKX vs FIRMX |
See all 59 diversifiers for PAAKX
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Diversification Analysis
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