Looking to diversify beyond PSLAX? The mutual funds below have historically moved differently from PSLAX, 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 PSLAX
1 mutual funds have low correlation with PSLAX (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 0.05, roughly unchanged from 0.05 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 | 0.05 | 0.08 | 0.05 | 99 | Ultrashort Bond | PSLAX vs PSDYX | |
| Aegis Value Fund Class I | 0.38 | 0.49 | 0.58 | 94 | Small Cap Value Equities | PSLAX vs AVALX | |
| Putnam Global Technology Fund | 0.43 | 0.47 | 0.56 | 51 | Technology Equities | PSLAX vs PGTYX | |
| Putnam Research Fund | 0.64 | 0.68 | 0.73 | 78 | Large Cap Blend Equities | PSLAX vs PNRAX | |
| Palm Valley Capital Fund Investor Class | 0.68 | 0.66 | 0.65 | 73 | Small Cap Value Equities | PSLAX vs PVCMX |
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