Looking to diversify beyond PRMYX? The mutual funds below have historically moved differently from PRMYX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.18, roughly unchanged from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Ultra Short Duration Income Fund | 0.18 | 0.22 | 0.19 | 99 | Ultrashort Bond | PRMYX vs PSDYX | |
| Putnam Global Technology Fund | 0.69 | 0.66 | 0.66 | 51 | Technology Equities | PRMYX vs PGTYX | |
| Putnam Large Cap Value Fund Class R6 | 0.71 | 0.70 | 0.68 | 93 | Large Cap Value Equities | PRMYX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.71 | 0.70 | 0.68 | 93 | Large Cap Value Equities | PRMYX vs PEIYX | |
| Putnam Large Cap Value Fund | 0.72 | 0.70 | 0.68 | 92 | Large Cap Value Equities | PRMYX vs PEYAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PRMYX
Add PRMYX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PRMYX