Looking to diversify beyond PRMYX? The mutual funds below have the lowest correlation with PRMYX — 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 PRMYX.
Best Diversifiers for PRMYX
1 mutual funds have low correlation with PRMYX (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 0.23, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.23 | 0.22 | 0.19 | 98 | Ultrashort Bond | PRMYX vs PSDYX | |
| Putnam Global Technology Fund | 0.66 | 0.65 | 0.66 | 82 | Technology Equities | PRMYX vs PGTYX | |
| Putnam Large Cap Value Fund | 0.73 | 0.70 | 0.68 | 84 | Large Cap Value Equities | PRMYX vs PEIYX | |
| Putnam Large Cap Value Fund | 0.73 | 0.70 | 0.68 | 83 | Large Cap Value Equities | PRMYX vs PEYAX | |
| Putnam Large Cap Value Fund Class R6 | 0.73 | 0.70 | 0.68 | 84 | Large Cap Value Equities | PRMYX vs PEQSX |
See all 51 diversifiers for PRMYX
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