Looking to diversify beyond PMTGX? The mutual funds below have historically moved differently from PMTGX, 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 PMTGX
2 mutual funds have low correlation with PMTGX (below 0.3), 0 of which are negatively correlated. The least correlated is GMO U.S. Treasury Fund (GUSTX) (Government Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GMO U.S. Treasury Fund | 0.10 | 0.06 | 0.07 | 99 | Government Bonds | PMTGX vs GUSTX | |
| Federated Hermes Adjustable Rate Fund | 0.27 | 0.45 | 0.47 | 99 | Government Bonds | PMTGX vs FEUGX | |
| DFA Short-Term Government Portfolio | 0.31 | 0.12 | 0.32 | 99 | Government Bonds | PMTGX vs DFFGX | |
| Davis Government Bond Fund | 0.38 | 0.46 | 0.56 | 88 | Government Bonds | PMTGX vs RFBAX | |
| PIA Short Term Securities Fund | 0.56 | 0.63 | 0.62 | 97 | Ultrashort Bond | PMTGX vs PIASX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PMTGX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.22, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.22 | 0.17 | 0.13 | 77 | Financial Services |
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