Looking to diversify beyond PGTAX? The mutual funds below have the lowest correlation with PGTAX — 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 PGTAX.
Best Diversifiers for PGTAX
1 mutual funds have low correlation with PGTAX (below 0.3), 1 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 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | -0.04 | 0.01 | 0.01 | 98 | Ultrashort Bond | PGTAX vs PSDYX | |
| ARK Venture Fund | 0.37 | 0.50 | — | 98 | Technology Equities | PGTAX vs ARKVX | |
| Putnam Large Cap Value Fund | 0.45 | 0.50 | 0.61 | 80 | Large Cap Value Equities | PGTAX vs PEYAX | |
| Putnam Large Cap Value Fund Class R6 | 0.47 | 0.51 | 0.61 | 81 | Large Cap Value Equities | PGTAX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.47 | 0.50 | 0.61 | 81 | Large Cap Value Equities | PGTAX vs PEIYX |
See all 28 diversifiers for PGTAX
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