Looking to diversify beyond PYGFX? The mutual funds below have the lowest correlation with PYGFX — 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 PYGFX.
Best Diversifiers for PYGFX
1 mutual funds have low correlation with PYGFX (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 0.17, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.17 | 0.13 | 0.16 | 98 | Bank Loan | PYGFX vs PYFRX | |
| Payden Equity Income Fund | 0.33 | 0.23 | 0.15 | 64 | Large Cap Value Equities | PYGFX vs PYVLX | |
| Payden Limited Maturity Fund | 0.42 | 0.37 | 0.36 | 97 | Ultrashort Bond | PYGFX vs PYLMX | |
| Destinations Global Fixed Income Opportunities Fun... | 0.43 | 0.50 | 0.45 | 98 | Global Bonds | PYGFX vs DGFFX | |
| Eaton Vance Global Bond Fund | 0.52 | 0.70 | 0.60 | 90 | Global Bonds | PYGFX vs EAIIX |
See all 16 diversifiers for PYGFX
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