Looking to diversify beyond PCONX? The mutual funds below have the lowest correlation with PCONX — 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 PCONX.
Best Diversifiers for PCONX
1 mutual funds have low correlation with PCONX (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 0.11, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.11 | 0.08 | 0.06 | 98 | Ultrashort Bond | PCONX vs PSDYX | |
| Putnam Large Cap Value Fund | 0.64 | 0.72 | 0.75 | 83 | Large Cap Value Equities | PCONX vs PEYAX | |
| Putnam Large Cap Value Fund | 0.64 | 0.72 | 0.75 | 84 | Large Cap Value Equities | PCONX vs PEIYX | |
| Putnam Large Cap Value Fund Class R6 | 0.64 | 0.72 | 0.75 | 84 | Large Cap Value Equities | PCONX vs PEQSX | |
| Calamos Convertible Opportunities and Income Fund | 0.71 | 0.59 | 0.62 | 85 | Convertible Bonds | PCONX vs CHI |
See all 20 diversifiers for PCONX
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