Looking to diversify beyond PAXDX? The mutual funds below have historically moved differently from PAXDX, 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 PAXDX
45 mutual funds have low correlation with PAXDX (below 0.3), 0 of which are negatively correlated. The least correlated is NXG Cushing® Midstream Energy Fund (SRV) (Energy Equities) with a 1Y correlation of 0.10, down from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NXG Cushing® Midstream Energy Fund | 0.10 | 0.19 | 0.33 | 58 | Energy Equities | PAXDX vs SRV | |
| Fidelity Select Energy Portfolio | 0.12 | 0.21 | 0.34 | 87 | Energy Equities | PAXDX vs FSENX | |
| Kayne Anderson Energy Infrastructure Fund | 0.12 | 0.32 | 0.45 | 68 | Infrastructure Equities, Energy Equities | PAXDX vs KYN | |
| Vanguard Energy Index Fund Admiral Shares | 0.12 | 0.20 | 0.33 | 72 | Energy Equities | PAXDX vs VENAX | |
| MainGate MLP Fund | 0.12 | 0.31 | 0.44 | 73 | Energy Equities | PAXDX vs IMLPX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PAXDX
Add PAXDX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PAXDX