Looking to diversify beyond PHSTX? The mutual funds below have historically moved differently from PHSTX, 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 PHSTX
5 mutual funds have low correlation with PHSTX (below 0.3), 1 of which are negatively correlated. The least correlated is Putnam Global Technology Fund (PGTYX) (Technology Equities) with a 1Y correlation of -0.03, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Global Technology Fund | -0.03 | 0.21 | 0.37 | 51 | Technology Equities | PHSTX vs PGTYX | |
| Federated Hermes Municipal Ultra Short Fund | 0.00 | 0.15 | 0.11 | 93 | Municipal Bonds | PHSTX vs FMUSX | |
| Putnam Ultra Short Duration Income Fund | 0.12 | 0.14 | 0.11 | 99 | Ultrashort Bond | PHSTX vs PSDYX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.17 | 0.33 | 0.49 | 98 | PHSTX vs CMNIX | ||
| Putnam Research Fund | 0.24 | 0.44 | 0.55 | 78 | Large Cap Blend Equities | PHSTX vs PNRAX |
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