Looking to diversify beyond PYFRX? The mutual funds below have historically moved differently from PYFRX, 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 PYFRX
19 mutual funds have low correlation with PYFRX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.19, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.19 | -0.05 | 0.08 | 93 | Bank Loan | PYFRX vs XPTFX | |
| Diamond Hill Short Duration Securitized Bond Fund | -0.07 | 0.02 | 0.09 | 99 | Short-Term Bond | PYFRX vs DHEAX | |
| Payden Low Duration Fund | 0.01 | 0.05 | 0.10 | 75 | Short-Term Bond | PYFRX vs PYSBX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.03 | — | — | 99 | Bank Loan | PYFRX vs CAPIX | |
| Payden Global Low Duration Fund | 0.06 | 0.06 | 0.12 | 89 | Global Bonds | PYFRX vs PYGSX |
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