Looking to diversify beyond PBAMX? The mutual funds below have the lowest correlation with PBAMX — 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 PBAMX.
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 0.14, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.14 | 0.12 | 0.08 | 98 | Ultrashort Bond | PBAMX vs PSDYX | |
| Dimensional Retirement Income Fund | 0.74 | 0.79 | 0.76 | 83 | Target Retirement Date | PBAMX vs TDIFX | |
| Putnam Global Technology Fund | 0.79 | 0.82 | 0.86 | 91 | Technology Equities | PBAMX vs PGTYX | |
| Putnam Large Cap Value Fund | 0.79 | 0.80 | 0.85 | 80 | Large Cap Value Equities | PBAMX vs PEYAX | |
| Putnam Large Cap Value Fund | 0.79 | 0.80 | 0.85 | 81 | Large Cap Value Equities | PBAMX vs PEIYX |
See all 58 diversifiers for PBAMX
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