Looking to diversify beyond PGGIX? The mutual funds below have the lowest correlation with PGGIX — 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 PGGIX.
Best Diversifiers for PGGIX
1 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 0.27, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Global Technology Fund | 0.27 | 0.17 | 0.19 | 82 | Technology Equities | PGGIX vs PGTYX | |
| Putnam Ultra Short Duration Income Fund | 0.32 | 0.31 | 0.29 | 98 | Ultrashort Bond | PGGIX vs PSDYX | |
| Putnam Research Fund | 0.40 | 0.25 | 0.23 | 80 | Large Cap Blend Equities | PGGIX vs PNRAX | |
| Destinations Global Fixed Income Opportunities Fun... | 0.42 | 0.48 | 0.45 | 98 | Global Bonds | PGGIX vs DGFFX | |
| Putnam Large Cap Value Fund Class R6 | 0.42 | 0.29 | 0.23 | 84 | Large Cap Value Equities | PGGIX vs PEQSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PGGIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PGGIX and solid risk/return profiles. The least correlated is Nucor Corporation (NUE) (Basic Materials) with a 1Y correlation of 0.24, up from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nucor Corporation | 0.24 | 0.11 | 0.10 | 95 | Basic Materials |
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