Looking to diversify beyond PEIYX? The mutual funds below have historically moved differently from PEIYX, 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 PEIYX
9 mutual funds have low correlation with PEIYX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of 0.02, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | 0.02 | 0.07 | 0.17 | 85 | Nontraditional Bonds | PEIYX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | 0.08 | 0.10 | 0.06 | 98 | Ultrashort Bond | PEIYX vs PSDYX | |
| GQG Partners US Quality Dividend Income Fund | 0.21 | 0.57 | 0.70 | 54 | Quality Factor, Large Cap Value Equities | PEIYX vs GQHPX | |
| Putnam Short Duration Bond Fund | 0.22 | 0.15 | 0.13 | 75 | Short-Term Bond | PEIYX vs PARYX | |
| Voya Corporate Leaders Trust Fund | 0.23 | 0.55 | 0.69 | 94 | Large Cap Value Equities | PEIYX vs LEXCX |
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