Looking to diversify beyond PADZX? The mutual funds below have the lowest correlation with PADZX — 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 PADZX.
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 -0.06, down from 0.16 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.06 | 0.16 | — | 99 | Nontraditional Bonds | PADZX vs APFPX | |
| Putnam Mortgage Opportunities Fund | -0.06 | 0.18 | 0.12 | 88 | Nontraditional Bonds | PADZX vs PMOTX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.01 | — | — | 100 | Nontraditional Bonds | PADZX vs CBYYX | |
| Dunham Long/Short Credit Fund | 0.11 | 0.04 | 0.17 | 95 | Nontraditional Bonds | PADZX vs DCAIX | |
| GMO Opportunistic Income Fund | 0.15 | -0.18 | -0.17 | 97 | Nontraditional Bonds | PADZX vs GMODX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PADZX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PADZX and solid risk/return profiles. The least correlated is Meta Financial Group, Inc. (CASH) (Financial Services) with a 1Y correlation of -0.05, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Meta Financial Group, Inc. | -0.05 | 0.03 | -0.01 | 55 | Financial Services |
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