Looking to diversify beyond PMVAX? The mutual funds below have historically moved differently from PMVAX, 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 PMVAX
1 mutual funds have low correlation with PMVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Ultra Short Duration Income Fund (PSDYX) (Ultrashort Bond) with a 1Y correlation of 0.10, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.10 | 0.07 | 0.06 | 99 | Ultrashort Bond | PMVAX vs PSDYX | |
| Putnam Large Cap Value Fund Class R6 | 0.67 | 0.73 | 0.75 | 93 | Large Cap Value Equities | PMVAX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.67 | 0.73 | 0.75 | 93 | Large Cap Value Equities | PMVAX vs PEIYX | |
| Putnam Large Cap Value Fund | 0.68 | 0.73 | 0.75 | 92 | Large Cap Value Equities | PMVAX vs PEYAX | |
| Putnam Global Technology Fund | 0.73 | 0.76 | 0.83 | 51 | Technology Equities | PMVAX vs PGTYX |
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