Looking to diversify beyond PYACX? The mutual funds below have historically moved differently from PYACX, 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 PYACX
1 mutual funds have low correlation with PYACX (below 0.3), 0 of which are negatively correlated. The least correlated is Payden Floating Rate Fund (PYFRX) (Bank Loan) with a 1Y correlation of 0.11, roughly unchanged from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.11 | 0.14 | 0.18 | 98 | Bank Loan | PYACX vs PYFRX | |
| Payden Limited Maturity Fund | 0.32 | 0.34 | 0.34 | 98 | Ultrashort Bond | PYACX vs PYLMX | |
| Payden Equity Income Fund | 0.38 | 0.31 | 0.23 | 84 | Dividend, Large Cap Value Equities | PYACX vs PYVLX | |
| Payden Absolute Return Bond Fund | 0.43 | 0.32 | 0.47 | 82 | Nontraditional Bonds | PYACX vs PYARX | |
| Miller Intermediate Bond Fund | 0.45 | 0.36 | 0.31 | 96 | Corporate Bonds | PYACX vs MIFIX |
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