Looking to diversify beyond PMYAX? The mutual funds below have the lowest correlation with PMYAX — 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 PMYAX.
Best Diversifiers for PMYAX
2 mutual funds have low correlation with PMYAX (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 0.09, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.09 | 0.07 | 0.04 | 98 | Ultrashort Bond | PMYAX vs PSDYX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.16 | 0.13 | 73 | Large Cap Blend Equities | PMYAX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.48 | 0.35 | 0.42 | 72 | Large Cap Blend Equities | PMYAX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.63 | 0.72 | 0.81 | 56 | Large Cap Blend Equities | PMYAX vs RCKSX | |
| Glenmede Responsible ESG U.S. Equity Portfolio | 0.71 | 0.82 | 0.89 | 91 | Large Cap Blend Equities | PMYAX vs RESGX |
See all 32 diversifiers for PMYAX
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