Looking to diversify beyond PBAMX? The mutual funds below have historically moved differently from PBAMX, 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 PBAMX
1 mutual funds have low correlation with PBAMX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Ultra Short Duration Income Fund (PSDYX) (Ultrashort Bond) with a 1Y correlation of 0.10, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.10 | 0.12 | 0.09 | 99 | Ultrashort Bond | PBAMX vs PSDYX | |
| Putnam Large Cap Value Fund Class R6 | 0.76 | 0.79 | 0.84 | 93 | Large Cap Value Equities | PBAMX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.76 | 0.79 | 0.84 | 92 | Large Cap Value Equities | PBAMX vs PEYAX | |
| Putnam Large Cap Value Fund | 0.77 | 0.79 | 0.85 | 93 | Large Cap Value Equities | PBAMX vs PEIYX | |
| Dimensional Retirement Income Fund | 0.80 | 0.79 | 0.76 | 81 | Target Retirement Date | PBAMX vs TDIFX |
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