Looking to diversify beyond PARNX? The mutual funds below have the lowest correlation with PARNX — 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 PARNX.
Best Diversifiers for PARNX
0 mutual funds have low correlation with PARNX (below 0.3), 0 of which are negatively correlated. The least correlated is Tanaka Growth Fund (TGFRX) (Mid Cap Growth Equities) with a 1Y correlation of 0.65, down from 0.76 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Tanaka Growth Fund | 0.65 | 0.71 | 0.76 | 52 | Mid Cap Growth Equities | PARNX vs TGFRX | |
| Essex Environmental Opportunities Fund | 0.68 | 0.73 | 0.78 | 63 | Mid Cap Growth Equities | PARNX vs EEOFX | |
| Baron Focused Growth Fund | 0.72 | 0.77 | 0.81 | 53 | Mid Cap Growth Equities | PARNX vs BFGFX | |
| Baron Focused Growth Fund Institutional Shares | 0.73 | 0.78 | 0.81 | 54 | Mid Cap Growth Equities | PARNX vs BFGIX | |
| Needham Growth Fund | 0.75 | 0.79 | 0.83 | 92 | Mid Cap Growth Equities | PARNX vs NEEGX |
See all 18 diversifiers for PARNX
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