Looking to diversify beyond PMOTX? The mutual funds below have historically moved differently from PMOTX, 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 PMOTX
49 mutual funds have low correlation with PMOTX (below 0.3), 18 of which are negatively correlated. The least correlated is Goldman Sachs Long Short Credit Strategies Fund (GSAWX) (Nontraditional Bonds) with a 1Y correlation of -0.13, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Long Short Credit Strategies Fund | -0.13 | -0.02 | 0.06 | 68 | Nontraditional Bonds | PMOTX vs GSAWX | |
| iMGP High Income Alternatives Fund | -0.12 | -0.07 | 0.06 | 95 | Nontraditional Bonds | PMOTX vs MAHIX | |
| BlackRock Global Long/Short Credit Fund | -0.09 | -0.02 | 0.04 | 91 | Nontraditional Bonds | PMOTX vs BGCIX | |
| Putnam Global Technology Fund | -0.08 | 0.04 | 0.14 | 51 | Technology Equities | PMOTX vs PGTYX | |
| Eaton Vance Global Macro Absolute Return Advantage... | -0.08 | -0.02 | 0.04 | 98 | Nontraditional Bonds | PMOTX vs EGRIX |
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