Looking to diversify beyond PYSBX? The mutual funds below have historically moved differently from PYSBX, 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 PYSBX
7 mutual funds have low correlation with PYSBX (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 0.01, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | 0.01 | 0.05 | 0.10 | 99 | Bank Loan | PYSBX vs PYFRX | |
| GuidePath Absolute Return Allocation Fund | 0.09 | 0.47 | 0.54 | 55 | Short-Term Bond | PYSBX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.11 | 0.14 | 0.19 | 78 | Short-Term Bond | PYSBX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.17 | 0.05 | 0.36 | 100 | Short-Term Bond | PYSBX vs DFCFX | |
| GuidepathConservative Income Fund | 0.21 | 0.29 | 0.38 | 99 | Short-Term Bond | PYSBX vs GPICX |
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