Looking to diversify beyond PGOYX? The mutual funds below have the lowest correlation with PGOYX — 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 PGOYX.
Best Diversifiers for PGOYX
4 mutual funds have low correlation with PGOYX (below 0.3), 1 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of -0.09, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.09 | 0.06 | 0.15 | 74 | Nontraditional Bonds | PGOYX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | 0.06 | 0.04 | 0.03 | 98 | Ultrashort Bond | PGOYX vs PSDYX | |
| Putnam Mortgage Securities Fund | 0.19 | 0.17 | 0.21 | 51 | Intermediate Core-Plus Bond | PGOYX vs PGSIX | |
| Putnam Short Duration Bond Fund | 0.21 | 0.11 | 0.14 | 82 | Short-Term Bond | PGOYX vs PARYX | |
| Baron Partners Fund | 0.52 | 0.61 | 0.70 | 72 | Large Cap Growth Equities | PGOYX vs BPTRX |
See all 58 diversifiers for PGOYX
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