Looking to diversify beyond PAXHX? The mutual funds below have the lowest correlation with PAXHX — 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 PAXHX.
Best Diversifiers for PAXHX
3 mutual funds have low correlation with PAXHX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.09 | 0.09 | 0.11 | 100 | High Yield Bonds | PAXHX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.10 | 0.07 | 0.05 | 100 | High Yield Bonds | PAXHX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.22 | 0.22 | 0.28 | 99 | High Yield Bonds | PAXHX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.33 | 0.65 | 0.78 | 52 | High Yield Bonds | PAXHX vs RCRYX | |
| T. Rowe Price Floating Rate Fund | 0.40 | 0.46 | 0.52 | 96 | High Yield Bonds | PAXHX vs PRFRX |
See all 28 diversifiers for PAXHX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements PAXHX
Add PAXHX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PAXHX