Looking to diversify beyond PARYX? The mutual funds below have historically moved differently from PARYX, 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 PARYX
11 mutual funds have low correlation with PARYX (below 0.3), 0 of which are negatively correlated. The least correlated is GuidePath Absolute Return Allocation Fund (GPARX) (Short-Term Bond) with a 1Y correlation of 0.12, down from 0.56 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GuidePath Absolute Return Allocation Fund | 0.12 | 0.47 | 0.56 | 69 | Short-Term Bond | PARYX vs GPARX | |
| Putnam Global Technology Fund | 0.16 | 0.08 | 0.13 | 51 | Technology Equities | PARYX vs PGTYX | |
| Leader Short Term High Yield Bond Fund | 0.16 | 0.17 | 0.24 | 84 | Short-Term Bond | PARYX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.19 | 0.04 | 0.35 | 100 | Short-Term Bond | PARYX vs DFCFX | |
| GuidepathConservative Income Fund | 0.20 | 0.30 | 0.41 | 99 | Short-Term Bond | PARYX vs GPICX |
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