Looking to diversify beyond PYGSX? The mutual funds below have historically moved differently from PYGSX, 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 PYGSX
2 mutual funds have low correlation with PYGSX (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 0.12 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 | 0.06 | 0.12 | 98 | Bank Loan | PYGSX vs PYFRX | |
| DFA Two Year Global Fixed Income Portfolio | 0.28 | 0.10 | 0.38 | 100 | Global Bonds | PYGSX vs DFGFX | |
| Payden Equity Income Fund | 0.31 | 0.14 | 0.13 | 81 | Dividend, Large Cap Value Equities | PYGSX vs PYVLX | |
| T. Rowe Price International Bond Fund (USD Hedged) | 0.34 | 0.44 | 0.51 | 51 | Global Bonds | PYGSX vs TNBMX | |
| T. Rowe Price Global Multi-Sector Bond Fund | 0.37 | 0.49 | 0.54 | 75 | Global Bonds | PYGSX vs PRSNX |
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