Looking to diversify beyond PYEMX? The mutual funds below have historically moved differently from PYEMX, 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 PYEMX
3 mutual funds have low correlation with PYEMX (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 0.24, roughly unchanged from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Limited Maturity Fund | 0.24 | 0.26 | 0.26 | 98 | Ultrashort Bond | PYEMX vs PYLMX | |
| Fidelity Floating Rate High Income Fund | 0.25 | 0.24 | 0.33 | 95 | Bank Loan | PYEMX vs FFRHX | |
| Payden Floating Rate Fund | 0.27 | 0.25 | 0.37 | 98 | Bank Loan | PYEMX vs PYFRX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.45 | 0.39 | 0.39 | 57 | Emerging Markets Bonds | PYEMX vs EDD | |
| Payden Equity Income Fund | 0.47 | 0.37 | 0.34 | 81 | Dividend, Large Cap Value Equities | PYEMX vs PYVLX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PYEMX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Shell plc (SHEL) (Energy) with a 1Y correlation of -0.16, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Shell plc | -0.16 | 0.00 | 0.06 | 80 | Energy | |
| Berkshire Hathaway Inc. | 0.05 | 0.13 | 0.17 | 61 | Financial Services | |
| Annaly Capital Management, Inc. | 0.42 | 0.43 | 0.38 | 80 | Real Estate | |
| Vale S.A. | 0.42 | 0.33 | 0.25 | 89 | Basic Materials | |
| AGNC Investment Corp. | 0.43 | 0.44 | 0.38 | 79 | Real Estate |
Build a portfolio that complements PYEMX
Add PYEMX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PYEMX