Looking to diversify beyond PYCRX? The mutual funds below have historically moved differently from PYCRX, 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 PYCRX
11 mutual funds have low correlation with PYCRX (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 0.13, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.13 | 0.10 | 0.16 | 98 | Bank Loan | PYCRX vs PYFRX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.19 | 0.27 | — | 100 | Municipal Bonds | PYCRX vs DFABX | |
| Payden Equity Income Fund | 0.21 | 0.17 | 0.08 | 81 | Dividend, Large Cap Value Equities | PYCRX vs PYVLX | |
| abrdn Ultra Short Municipal Income Fund | 0.21 | 0.25 | 0.26 | 100 | Municipal Bonds | PYCRX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.28 | 0.36 | 100 | Municipal Bonds | PYCRX vs DFSMX |
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