Looking to diversify beyond PAXS? The mutual funds below have historically moved differently from PAXS, 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 PAXS
7 mutual funds have low correlation with PAXS (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.11, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.11 | 0.05 | 0.09 | 69 | Commodities | PAXS vs PCRIX | |
| Neuberger Berman MLP | -0.03 | 0.19 | — | 71 | MLPs, Energy Equities | PAXS vs NML | |
| CrossingBridge Low Duration High Yield Fund | 0.16 | 0.16 | 0.16 | 96 | Multisector Bonds | PAXS vs CBLDX | |
| Nationwide Amundi Strategic Income Fund | 0.17 | 0.13 | — | 99 | Multisector Bonds | PAXS vs NWXHX | |
| Nationwide Strategic Income A | 0.21 | 0.12 | 0.11 | 99 | Multisector Bonds | PAXS vs NWXEX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PAXS, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Spire Inc. (SR) (Utilities) with a 1Y correlation of 0.02, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Spire Inc. | 0.02 | 0.12 | 0.15 | 60 | Utilities | |
| Strategy Inc Variable Rate Series A Perpetual Stre... | 0.23 | 0.23 | 0.23 | 57 | Technology | |
| Reaves Utility Income Trust | 0.24 | 0.26 | — | 55 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.31 | 0.34 | 0.39 | 87 | Financial Services | |
| BlackRock Capital Allocation Term Trust | 0.31 | 0.30 | 0.36 | 95 | Financial Services |
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