Looking to diversify beyond PMYYX? The mutual funds below have the lowest correlation with PMYYX — 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 PMYYX.
Best Diversifiers for PMYYX
6 mutual funds have low correlation with PMYYX (below 0.3), 1 of which are negatively correlated. The least correlated is Putnam Mortgage Opportunities Fund (PMOTX) (Nontraditional Bonds) with a 1Y correlation of -0.07, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.07 | 0.08 | 0.17 | 64 | Nontraditional Bonds | PMYYX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | 0.09 | 0.08 | 0.04 | 98 | Ultrashort Bond | PMYYX vs PSDYX | |
| Putnam Short Duration Bond Fund | 0.22 | 0.14 | 0.14 | 81 | Short-Term Bond | PMYYX vs PARYX | |
| Putnam Mortgage Securities Fund | 0.23 | 0.23 | 0.24 | 51 | Intermediate Core-Plus Bond | PMYYX vs PGSIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.14 | 0.12 | 73 | Large Cap Blend Equities | PMYYX vs SVPFX |
See all 72 diversifiers for PMYYX
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