Looking to diversify beyond POVSX? The mutual funds below have the lowest correlation with POVSX — 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 POVSX.
Best Diversifiers for POVSX
2 mutual funds have low correlation with POVSX (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 0.16, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.16 | 0.13 | 0.08 | 98 | Ultrashort Bond | POVSX vs PSDYX | |
| Federated Hermes Municipal Ultra Short Fund | 0.19 | 0.10 | 0.08 | 94 | Municipal Bonds | POVSX vs FMUSX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.39 | 0.42 | 0.60 | 98 | POVSX vs CMNIX | ||
| State Street Emerging Markets Equity Index Fund | 0.51 | 0.56 | 0.61 | 90 | Emerging Markets Diversified | POVSX vs SSKEX | |
| Kopernik International Fund | 0.58 | 0.50 | 0.61 | 53 | Foreign Large Cap Equities | POVSX vs KGIIX |
See all 42 diversifiers for POVSX
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