Looking to diversify beyond PEIYX? The mutual funds below have the lowest correlation with PEIYX — 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 PEIYX.
Best Diversifiers for PEIYX
9 mutual funds have low correlation with PEIYX (below 0.3), 1 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of -0.03, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.03 | 0.08 | 0.17 | 64 | Nontraditional Bonds | PEIYX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | 0.12 | 0.11 | 0.06 | 98 | Ultrashort Bond | PEIYX vs PSDYX | |
| Columbia High Yield Municipal Fund | 0.17 | 0.14 | 0.09 | 79 | High Yield Muni | PEIYX vs SRHMX | |
| Weitz Short Duration Income Fund | 0.18 | 0.11 | 0.11 | 92 | Short-Term Bond | PEIYX vs WEFIX | |
| Putnam Short Duration Bond Fund | 0.18 | 0.14 | 0.13 | 81 | Short-Term Bond | PEIYX vs PARYX |
See all 80 diversifiers for PEIYX
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