Looking to diversify beyond PNOPX? The mutual funds below have the lowest correlation with PNOPX — 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 PNOPX.
Best Diversifiers for PNOPX
4 mutual funds have low correlation with PNOPX (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 -0.06, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | -0.06 | 0.07 | 0.16 | 86 | Nontraditional Bonds | PNOPX vs PMOTX | |
| Putnam Ultra Short Duration Income Fund | 0.10 | 0.08 | 0.05 | 99 | Ultrashort Bond | PNOPX vs PSDYX | |
| Putnam Short Duration Bond Fund | 0.27 | 0.16 | 0.16 | 88 | Short-Term Bond | PNOPX vs PARYX | |
| Putnam Mortgage Securities Fund | 0.28 | 0.23 | 0.24 | 56 | Intermediate Core-Plus Bond | PNOPX vs PGSIX | |
| Baron Partners Fund | 0.56 | 0.63 | 0.69 | 75 | Large Cap Growth Equities | PNOPX vs BPTRX |
See all 55 diversifiers for PNOPX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements PNOPX
Add PNOPX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PNOPX