Looking to diversify beyond PADZX? The mutual funds below have historically moved differently from PADZX, 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 PADZX
18 mutual funds have low correlation with PADZX (below 0.3), 2 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.10, down from 0.13 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.10 | 0.13 | — | 99 | Nontraditional Bonds | PADZX vs APFPX | |
| Putnam Mortgage Opportunities Fund | -0.03 | 0.17 | 0.12 | 88 | Nontraditional Bonds | PADZX vs PMOTX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.03 | — | — | 100 | Nontraditional Bonds | PADZX vs CBYYX | |
| Cliffwater Enhanced Lending Fund | 0.03 | 0.03 | 0.05 | 100 | Nontraditional Bonds | PADZX vs CELFX | |
| Dunham Long/Short Credit Fund | 0.11 | 0.03 | 0.16 | 94 | Nontraditional Bonds | PADZX vs DCAIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PADZX, 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 -0.02, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc. | -0.02 | 0.07 | 0.01 | 61 | Financial Services |
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