Looking to diversify beyond PYGFX? The mutual funds below have historically moved differently from PYGFX, 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 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 0.12, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.12 | 0.13 | 0.16 | 98 | Bank Loan | PYGFX vs PYFRX | |
| DFA Two Year Global Fixed Income Portfolio | 0.32 | 0.09 | 0.35 | 100 | Global Bonds | PYGFX vs DFGFX | |
| Payden Limited Maturity Fund | 0.34 | 0.37 | 0.36 | 98 | Ultrashort Bond | PYGFX vs PYLMX | |
| Payden Equity Income Fund | 0.40 | 0.25 | 0.17 | 84 | Dividend, Large Cap Value Equities | PYGFX vs PYVLX | |
| Destinations Global Fixed Income Opportunities Fun... | 0.50 | 0.52 | 0.47 | 98 | Global Bonds | PYGFX vs DGFFX |
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