Looking to diversify beyond PGTYX? The mutual funds below have historically moved differently from PGTYX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PGTYX
11 mutual funds have low correlation with PGTYX (below 0.3), 3 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of -0.08, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.08 | 0.04 | 0.14 | 88 | Nontraditional Bonds | PGTYX vs PMOTX | |
| Putnam Global Health Care Fund | -0.03 | 0.21 | 0.37 | 63 | Health & Biotech Equities | PGTYX vs PHSTX | |
| Putnam Global Health Care Fund | -0.03 | 0.21 | 0.37 | 61 | Health & Biotech Equities | PGTYX vs PGHAX | |
| Putnam Ultra Short Duration Income Fund | 0.00 | 0.02 | 0.02 | 99 | Ultrashort Bond | PGTYX vs PSDYX | |
| Colorado Bond Shares A Tax Exempt Fund | 0.11 | 0.08 | 0.09 | 97 | Municipal Bonds | PGTYX vs HICOX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PGTYX
Add PGTYX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PGTYX