Looking to diversify beyond PALAX? The mutual funds below have the lowest correlation with PALAX — 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 PALAX.
Best Diversifiers for PALAX
2 mutual funds have low correlation with PALAX (below 0.3), 0 of which are negatively correlated. The least correlated is LoCorr Macro Strategies Fund Class I (LFMIX) (Global Allocation) with a 1Y correlation of 0.21, up from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.21 | 0.02 | -0.09 | 88 | Global Allocation | PALAX vs LFMIX | |
| Wilmington Real Asset Fund | 0.25 | 0.52 | 0.58 | 84 | Global Allocation | PALAX vs WMRIX | |
| Hartford Real Asset Fund | 0.36 | 0.54 | 0.62 | 97 | Global Allocation | PALAX vs HRLYX | |
| Lazard Real Assets Portfolio | 0.41 | 0.60 | 0.65 | 76 | Global Allocation | PALAX vs RALIX | |
| Principal Diversified Select Real Asset Fund | 0.48 | 0.66 | 0.72 | 92 | Global Allocation | PALAX vs PDSYX |
See all 27 diversifiers for PALAX
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Diversification Analysis
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