Looking to diversify beyond PYEMX? The mutual funds below have the lowest correlation with PYEMX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PYEMX.
Best Diversifiers for PYEMX
4 mutual funds have low correlation with PYEMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.22, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.22 | 0.24 | 0.33 | 93 | Bank Loan | PYEMX vs FFRHX | |
| Payden Limited Maturity Fund | 0.25 | 0.26 | 0.27 | 98 | Ultrashort Bond | PYEMX vs PYLMX | |
| Virtus Stone Harbor Emerging Markets Income Fund | 0.25 | 0.28 | 0.32 | 57 | Emerging Markets Bonds | PYEMX vs EDF | |
| Payden Floating Rate Fund | 0.25 | 0.26 | 0.36 | 98 | Bank Loan | PYEMX vs PYFRX | |
| Payden Global Low Duration Fund | 0.45 | 0.44 | 0.41 | 85 | Global Bonds | PYEMX vs PYGSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PYEMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PYEMX and solid risk/return profiles. The least correlated is Shell plc (SHEL) (Energy) with a 1Y correlation of -0.13, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Shell plc | -0.13 | 0.00 | 0.06 | 71 | Energy | |
| Berkshire Hathaway Inc. | 0.06 | 0.13 | 0.18 | 53 | Financial Services | |
| Annaly Capital Management, Inc. | 0.40 | 0.42 | 0.38 | 83 | Real Estate | |
| Vale S.A. | 0.41 | 0.34 | 0.25 | 82 | Basic Materials | |
| AGNC Investment Corp. | 0.42 | 0.43 | 0.38 | 83 | Real Estate |
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