Looking to diversify beyond PYGNX? The mutual funds below have the lowest correlation with PYGNX — 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 PYGNX.
Best Diversifiers for PYGNX
3 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 0.08, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.08 | 0.09 | 0.11 | 98 | Bank Loan | PYGNX vs PYFRX | |
| GMO U.S. Treasury Fund | 0.27 | 0.12 | 0.09 | 99 | Government Bonds | PYGNX vs GUSTX | |
| DFA Short-Term Government Portfolio | 0.28 | 0.09 | 0.32 | 59 | Government Bonds | PYGNX vs DFFGX | |
| Payden Equity Income Fund | 0.31 | 0.25 | 0.19 | 65 | Large Cap Value Equities | PYGNX vs PYVLX | |
| Federated Hermes Adjustable Rate Fund | 0.36 | 0.55 | 0.53 | 99 | Government Bonds | PYGNX vs FEUGX |
See all 17 diversifiers for PYGNX
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