Looking to diversify beyond PYLMX? The mutual funds below have historically moved differently from PYLMX, 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 PYLMX
23 mutual funds have low correlation with PYLMX (below 0.3), 1 of which are negatively correlated. The least correlated is T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) (Ultrashort Bond) with a 1Y correlation of -0.01, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Ultra Short-Term Bond Fund Class I | -0.01 | 0.28 | 0.32 | 99 | Ultrashort Bond | PYLMX vs TRSTX | |
| CrossingBridge Ultra-Short Duration Fund | 0.05 | 0.07 | 0.07 | 99 | Ultrashort Bond | PYLMX vs CBUDX | |
| Tactical Multi-Purpose Fund | 0.09 | 0.02 | 0.01 | 100 | Ultrashort Bond | PYLMX vs TMPFX | |
| Payden Floating Rate Fund | 0.09 | 0.08 | 0.15 | 98 | Bank Loan | PYLMX vs PYFRX | |
| DFA One Year Fixed Income Portfolio | 0.12 | 0.05 | 0.17 | 100 | Ultrashort Bond | PYLMX vs DFIHX |
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