Looking to diversify beyond PAI? The mutual funds below have the lowest correlation with PAI — 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 PAI.
Best Diversifiers for PAI
0 mutual funds have low correlation with PAI (below 0.3), 0 of which are negatively correlated. The least correlated is Miller Intermediate Bond Fund (MIFIX) (Corporate Bonds) with a 1Y correlation of 0.35, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Miller Intermediate Bond Fund | 0.35 | 0.27 | 0.25 | 91 | Corporate Bonds | PAI vs MIFIX | |
| Franklin Income Fund Class A1 | 0.37 | 0.38 | 0.33 | 84 | Diversified Portfolio | PAI vs FKINX | |
| Franklin Income Fund Advisor Class | 0.38 | 0.41 | 0.33 | 89 | Diversified Portfolio | PAI vs FRIAX | |
| Vanguard Short-Term Corporate Bond Index Fund Admi... | 0.47 | 0.42 | 0.40 | 78 | Corporate Bonds | PAI vs VSCSX | |
| Vanguard Short-Term Corporate Bond Index Fund Inst... | 0.48 | 0.43 | 0.40 | 81 | Corporate Bonds | PAI vs VSTBX |
Diversification Analysis
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