Looking to diversify beyond PAXDX? The mutual funds below have the lowest correlation with PAXDX — 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 PAXDX.
Best Diversifiers for PAXDX
19 mutual funds have low correlation with PAXDX (below 0.3), 0 of which are negatively correlated. The least correlated is Recurrent MLP & Infrastructure Fund (RMLPX) (Energy Equities) with a 1Y correlation of 0.13, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Recurrent MLP & Infrastructure Fund | 0.13 | 0.34 | 0.45 | 57 | Energy Equities | PAXDX vs RMLPX | |
| Eagle MLP Strategy Fund | 0.15 | 0.37 | 0.48 | 51 | Energy Equities | PAXDX vs EGLIX | |
| Invesco SteelPath MLP Select 40 Fund | 0.17 | 0.37 | 0.48 | 53 | Energy Equities | PAXDX vs MLPTX | |
| Rydex Energy Services Fund | 0.18 | 0.30 | 0.41 | 63 | Energy Equities | PAXDX vs RYVIX | |
| Cavanal Hill World Energy Fund Institutional Class | 0.19 | 0.35 | 0.44 | 53 | Energy Equities | PAXDX vs AIWEX |
See all 33 diversifiers for PAXDX
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