Looking to diversify beyond PYTRX? The mutual funds below have historically moved differently from PYTRX, 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 PYTRX
1 mutual funds have low correlation with PYTRX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Global Technology Fund (PGTYX) (Technology Equities) with a 1Y correlation of 0.21, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Putnam Global Technology Fund | 0.21 | 0.12 | 0.17 | 51 | Technology Equities | PYTRX vs PGTYX | |
| Putnam Large Cap Value Fund | 0.31 | 0.24 | 0.22 | 92 | Large Cap Value Equities | PYTRX vs PEYAX | |
| Putnam Large Cap Value Fund Class R6 | 0.31 | 0.24 | 0.22 | 93 | Large Cap Value Equities | PYTRX vs PEQSX | |
| Putnam Large Cap Value Fund | 0.31 | 0.24 | 0.23 | 93 | Large Cap Value Equities | PYTRX vs PEIYX | |
| Putnam Ultra Short Duration Income Fund | 0.31 | 0.34 | 0.29 | 99 | Ultrashort Bond | PYTRX vs PSDYX |
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