Looking to diversify beyond PABAX? The mutual funds below have the lowest correlation with PABAX — 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 PABAX.
Best Diversifiers for PABAX
2 mutual funds have low correlation with PABAX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.03, down from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.16 | 0.49 | 67 | Diversified Portfolio | PABAX vs MHELX | |
| Putnam Ultra Short Duration Income Fund | 0.15 | 0.14 | 0.09 | 98 | Ultrashort Bond | PABAX vs PSDYX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.33 | 0.52 | 0.59 | 88 | Diversified Portfolio | PABAX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.33 | 0.53 | 0.59 | 86 | Diversified Portfolio | PABAX vs FSIRX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.33 | 0.53 | 0.60 | 88 | Diversified Portfolio | PABAX vs FSRKX |
See all 34 diversifiers for PABAX
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