Looking to diversify beyond PHSTX? The mutual funds below have the lowest correlation with PHSTX — 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 PHSTX.
Best Diversifiers for PHSTX
4 mutual funds have low correlation with PHSTX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Municipal Ultra Short Fund | 0.08 | 0.16 | 0.11 | 93 | Municipal Bonds | PHSTX vs FMUSX | |
| Putnam Global Technology Fund | 0.12 | 0.28 | 0.42 | 91 | Technology Equities | PHSTX vs PGTYX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.13 | 0.35 | 0.50 | 98 | PHSTX vs CMNIX | ||
| Putnam Ultra Short Duration Income Fund | 0.24 | 0.15 | 0.11 | 98 | Ultrashort Bond | PHSTX vs PSDYX | |
| Putnam Research Fund | 0.37 | 0.49 | 0.58 | 86 | Large Cap Blend Equities | PHSTX vs PNRAX |
See all 23 diversifiers for PHSTX
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