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
2 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 0.27, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Limited Maturity Fund | 0.27 | 0.26 | 0.26 | 97 | Ultrashort Bond | PYEMX vs PYLMX | |
| Payden Floating Rate Fund | 0.30 | 0.27 | 0.36 | 98 | Bank Loan | PYEMX vs PYFRX | |
| Payden Equity Income Fund | 0.42 | 0.35 | 0.32 | 64 | Large Cap Value Equities | PYEMX vs PYVLX | |
| Payden California Municipal Social Impact Fund | 0.43 | 0.52 | 0.47 | 64 | Municipal Bonds | PYEMX vs PYCRX | |
| Payden Global Low Duration Fund | 0.45 | 0.41 | 0.40 | 80 | Global Bonds | PYEMX vs PYGSX |
See all 23 diversifiers for PYEMX
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