Looking to diversify beyond PMOTX? The mutual funds below have the lowest correlation with PMOTX — 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 PMOTX.
Best Diversifiers for PMOTX
49 mutual funds have low correlation with PMOTX (below 0.3), 18 of which are negatively correlated. The least correlated is BlackRock Global Long/Short Credit Fund (BGCIX) (Nontraditional Bonds) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Credit Fund | -0.13 | -0.03 | 0.04 | 96 | Nontraditional Bonds | PMOTX vs BGCIX | |
| iMGP High Income Alternatives Fund | -0.13 | -0.07 | 0.07 | 95 | Nontraditional Bonds | PMOTX vs MAHIX | |
| Goldman Sachs Long Short Credit Strategies Fund | -0.12 | -0.02 | 0.06 | 67 | Nontraditional Bonds | PMOTX vs GSAWX | |
| Putnam Global Technology Fund | -0.10 | 0.04 | 0.14 | 82 | Technology Equities | PMOTX vs PGTYX | |
| Putnam Research Fund | -0.09 | 0.07 | 0.17 | 80 | Large Cap Blend Equities | PMOTX vs PNRAX |
See all 49 diversifiers for PMOTX
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