Looking to diversify beyond PAAOX? The mutual funds below have historically moved differently from PAAOX, 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 PAAOX
0 mutual funds have low correlation with PAAOX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley China A Share Fund (CAF) (China Equities) with a 1Y correlation of 0.33, down from 0.56 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley China A Share Fund | 0.33 | 0.44 | 0.56 | 78 | China Equities, Asia Pacific Equities | PAAOX vs CAF | |
| Commonwealth Japan Fund | 0.34 | 0.38 | 0.44 | 63 | Japan Equities, Asia Pacific Equities | PAAOX vs CNJFX | |
| DFA Japanese Small Company Portfolio | 0.36 | 0.42 | 0.47 | 69 | Japan Equities, Asia Pacific Equities | PAAOX vs DFJSX | |
| T. Rowe Price Dividend Growth Fund, Inc. | 0.40 | 0.48 | 0.51 | 77 | Large Cap Blend Equities, Dividend | PAAOX vs PRDGX | |
| Fidelity SAI Japan Stock Index Fund | 0.46 | 0.51 | 0.55 | 62 | Japan Equities, Asia Pacific Equities | PAAOX vs FSJPX |
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