Looking to diversify beyond PYGNX? The mutual funds below have historically moved differently from PYGNX, 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 PYGNX
2 mutual funds have low correlation with PYGNX (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 0.06, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.06 | 0.08 | 0.11 | 98 | Bank Loan | PYGNX vs PYFRX | |
| GMO U.S. Treasury Fund | 0.23 | 0.12 | 0.10 | 99 | Government Bonds | PYGNX vs GUSTX | |
| Payden Equity Income Fund | 0.32 | 0.25 | 0.20 | 81 | Dividend, Large Cap Value Equities | PYGNX vs PYVLX | |
| Federated Hermes Adjustable Rate Fund | 0.33 | 0.54 | 0.53 | 99 | Government Bonds | PYGNX vs FEUGX | |
| DFA Short-Term Government Portfolio | 0.35 | 0.11 | 0.33 | 99 | Government Bonds | PYGNX vs DFFGX |
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