Looking to diversify beyond PGHAX? The mutual funds below have the lowest correlation with PGHAX — 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 PGHAX.
Best Diversifiers for PGHAX
2 mutual funds have low correlation with PGHAX (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 0.07, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Global Technology Fund | 0.07 | 0.26 | 0.41 | 82 | Technology Equities | PGHAX vs PGTYX | |
| Putnam Ultra Short Duration Income Fund | 0.23 | 0.15 | 0.11 | 98 | Ultrashort Bond | PGHAX vs PSDYX | |
| Putnam Research Fund | 0.35 | 0.48 | 0.58 | 80 | Large Cap Blend Equities | PGHAX vs PNRAX | |
| Putnam Multi-Cap Core Fund | 0.38 | 0.50 | 0.58 | 53 | Large Cap Blend Equities | PGHAX vs PMYYX | |
| Eventide Healthcare & Life Sciences Fund | 0.51 | 0.55 | 0.56 | 69 | Health & Biotech Equities | PGHAX vs ETIHX |
See all 21 diversifiers for PGHAX
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