Looking to diversify beyond PGGIX? The mutual funds below have historically moved differently from PGGIX, 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 PGGIX
3 mutual funds have low correlation with PGGIX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Global Technology Fund (PGTYX) (Technology Equities) with a 1Y correlation of 0.28, roughly unchanged from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Global Technology Fund | 0.28 | 0.16 | 0.20 | 51 | Technology Equities | PGGIX vs PGTYX | |
| Putnam Ultra Short Duration Income Fund | 0.28 | 0.31 | 0.29 | 99 | Ultrashort Bond | PGGIX vs PSDYX | |
| DFA Two Year Global Fixed Income Portfolio | 0.29 | 0.08 | 0.36 | 100 | Global Bonds | PGGIX vs DFGFX | |
| Putnam Large Cap Value Fund Class R6 | 0.41 | 0.29 | 0.23 | 93 | Large Cap Value Equities | PGGIX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.41 | 0.29 | 0.24 | 92 | Large Cap Value Equities | PGGIX vs PEYAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PGGIX, 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 Nucor Corporation (NUE) (Basic Materials) with a 1Y correlation of 0.22, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nucor Corporation | 0.22 | 0.10 | 0.10 | 94 | Basic Materials |
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