Looking to diversify beyond PARWX? The mutual funds below have historically moved differently from PARWX, 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 PARWX
4 mutual funds have low correlation with PARWX (below 0.3), 1 of which are negatively correlated. The least correlated is GQG Partners US Quality Dividend Income Fund (GQHPX) (Quality Factor) with a 1Y correlation of -0.02, down from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners US Quality Dividend Income Fund | -0.02 | 0.43 | 0.57 | 62 | Quality Factor, Large Cap Value Equities | PARWX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | 0.09 | 0.44 | 0.58 | 93 | Large Cap Value Equities | PARWX vs LEXCX | |
| Fidelity Short-Term Treasury Bond Index Fund | 0.22 | 0.13 | 0.09 | 55 | Short-Term Bond, Government Bonds | PARWX vs FUMBX | |
| Federated Hermes Strategic Value Dividend Fund | 0.26 | 0.48 | 0.62 | 94 | Large Cap Value Equities | PARWX vs SVAIX | |
| Buffalo Flexible Income Fund | 0.32 | 0.59 | 0.70 | 87 | Large Cap Value Equities | PARWX vs BUFBX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PARWX, 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 AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.03, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.03 | 0.25 | 0.27 | 81 | Healthcare | |
| Berkshire Hathaway Inc. | 0.16 | 0.42 | 0.57 | 61 | Financial Services | |
| Apple Inc | 0.31 | 0.33 | 0.48 | 89 | Technology |
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