Looking to diversify beyond PYGSX? The mutual funds below have the lowest correlation with PYGSX — 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 PYGSX.
Best Diversifiers for PYGSX
3 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 0.08, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.08 | 0.08 | 0.12 | 98 | Bank Loan | PYGSX vs PYFRX | |
| Dunham International Opportunity Bond Fund | 0.21 | 0.36 | 0.38 | 56 | Global Bonds | PYGSX vs DAIOX | |
| T. Rowe Price Global Multi-Sector Bond Fund | 0.28 | 0.49 | 0.54 | 91 | Global Bonds | PYGSX vs PRSNX | |
| Payden Equity Income Fund | 0.31 | 0.13 | 0.13 | 65 | Large Cap Value Equities | PYGSX vs PYVLX | |
| Destinations Global Fixed Income Opportunities Fun... | 0.32 | 0.35 | 0.35 | 98 | Global Bonds | PYGSX vs DGFFX |
See all 19 diversifiers for PYGSX
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