Looking to diversify beyond PGTYX? The mutual funds below have the lowest correlation with PGTYX — 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 PGTYX.
Best Diversifiers for PGTYX
7 mutual funds have low correlation with PGTYX (below 0.3), 2 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of -0.10, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.10 | 0.04 | 0.14 | 75 | Nontraditional Bonds | PGTYX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | -0.02 | 0.01 | 0.01 | 98 | Ultrashort Bond | PGTYX vs PSDYX | |
| Putnam Short Duration Bond Fund | 0.11 | 0.07 | 0.12 | 78 | Short-Term Bond | PGTYX vs PARYX | |
| Colorado Bond Shares A Tax Exempt Fund | 0.14 | 0.09 | 0.10 | 97 | Municipal Bonds | PGTYX vs HICOX | |
| Doubleline Selective Credit Fund | 0.14 | 0.11 | 0.08 | 94 | Multisector Bonds | PGTYX vs DBSCX |
See all 66 diversifiers for PGTYX
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