Looking to diversify beyond PEMYX? The mutual funds below have historically moved differently from PEMYX, 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 PEMYX
3 mutual funds have low correlation with PEMYX (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 0.04, roughly unchanged from 0.03 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 | 0.04 | 0.02 | 0.03 | 99 | Ultrashort Bond | PEMYX vs PSDYX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.18 | 0.49 | 0.58 | 51 | Foreign Large Cap Equities, Emerging Markets Equities | PEMYX vs GSIYX | |
| The Cook & Bynum Fund | 0.25 | 0.33 | 0.41 | 70 | Emerging Markets Equities | PEMYX vs COBYX | |
| Ashmore Emerging Markets Small Cap Equity Fund | 0.41 | 0.61 | 0.70 | 91 | Emerging Markets Equities | PEMYX vs ESCIX | |
| Putnam Large Cap Value Fund Class R6 | 0.47 | 0.48 | 0.54 | 93 | Large Cap Value Equities | PEMYX vs PEQSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PEMYX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.16, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.16 | 0.08 | 0.24 | 61 | Financial Services |
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