Looking to diversify beyond PYCEX? The mutual funds below have historically moved differently from PYCEX, 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 PYCEX
1 mutual funds have low correlation with PYCEX (below 0.3), 0 of which are negatively correlated. The least correlated is Payden Limited Maturity Fund (PYLMX) (Ultrashort Bond) with a 1Y correlation of 0.30, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Limited Maturity Fund | 0.30 | 0.33 | 0.31 | 98 | Ultrashort Bond | PYCEX vs PYLMX | |
| Payden Floating Rate Fund | 0.34 | 0.29 | 0.40 | 98 | Bank Loan | PYCEX vs PYFRX | |
| Payden Low Duration Fund | 0.37 | 0.50 | 0.44 | 64 | Short-Term Bond | PYCEX vs PYSBX | |
| Payden Equity Income Fund | 0.42 | 0.34 | 0.28 | 84 | Dividend, Large Cap Value Equities | PYCEX vs PYVLX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.44 | 0.36 | 0.33 | 53 | Emerging Markets Bonds | PYCEX vs EDD |
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