Looking to diversify beyond PAXS? The mutual funds below have the lowest correlation with PAXS — 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 PAXS.
Best Diversifiers for PAXS
13 mutual funds have low correlation with PAXS (below 0.3), 1 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.09, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.09 | 0.08 | 0.10 | 78 | Commodities | PAXS vs PCRIX | |
| Potomac Managed Volatility Fund | 0.08 | 0.21 | 0.13 | 69 | Multisector Bonds | PAXS vs CRMVX | |
| CrossingBridge Responsible Credit Fund | 0.13 | 0.17 | — | 68 | Multisector Bonds | PAXS vs CBRDX | |
| Nationwide Amundi Strategic Income Fund | 0.13 | 0.13 | 0.12 | 99 | Multisector Bonds | PAXS vs NWXHX | |
| CrossingBridge Low Duration High Yield Fund | 0.14 | 0.14 | 0.16 | 97 | Multisector Bonds | PAXS vs CBLDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAXS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAXS and solid risk/return profiles. The least correlated is Spire Inc. (SR) (Utilities) with a 1Y correlation of 0.01, down from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Spire Inc. | 0.01 | 0.13 | — | 60 | Utilities | |
| Reaves Utility Income Trust | 0.24 | 0.26 | — | 79 | Financial Services | |
| AGNC Investment Corp. | 0.25 | 0.29 | — | 77 | Real Estate | |
| BlackRock Science and Technology Trust II | 0.31 | 0.34 | — | 96 | Financial Services |
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