Looking to balance out your exposure to PAX? The ETFs below have the lowest correlation with PAX — they tend to move on their own, which can help reduce risk when PAX drops. The stock ideas table highlights individual companies that behave independently from PAX.
Best Diversifiers for PAX
4 ETFs have low correlation with PAX (below 0.3), 2 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.08, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.08 | 0.08 | 0.12 | 55 | Commodities | PAX vs PDBC | |
| Alerian MLP ETF | -0.03 | 0.22 | 0.29 | 54 | MLPs | PAX vs AMLP | |
| iShares Treasury Floating Rate Bond ETF | 0.02 | -0.03 | -0.04 | 100 | Government Bonds, Ultrashort Bond | PAX vs TFLO | |
| Janus Henderson B-BBB CLO ETF | 0.29 | 0.20 | — | 52 | CLO | PAX vs JBBB | |
| iShares MSCI South Korea ETF | 0.33 | 0.37 | 0.37 | 90 | South Korea Equities, Asia Pacific Equities | PAX vs EWY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAX and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.03, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.03 | 0.20 | 0.27 | 53 | Financial Services | |
| American Healthcare REIT, Inc. | 0.02 | 0.14 | 0.14 | 90 | Real Estate | |
| Tekla Healthcare Investors | 0.23 | 0.33 | 0.37 | 93 | Financial Services | |
| Dynex Capital, Inc. | 0.30 | 0.38 | 0.38 | 73 | Real Estate | |
| Capital Southwest Corporation | 0.35 | 0.31 | 0.34 | 66 | Financial Services |
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