Looking to diversify beyond CMNWX? The mutual funds below have the lowest correlation with CMNWX — 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 CMNWX.
Best Diversifiers for CMNWX
5 mutual funds have low correlation with CMNWX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Tax-Exempt Bond Fund (PTEAX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.12 | 0.11 | 0.09 | 64 | Municipal Bonds | CMNWX vs PTEAX | |
| Principal Opportunistic Municipal Fund | 0.15 | 0.11 | 0.10 | 68 | High Yield Muni | CMNWX vs PMOAX | |
| Principal California Municipal Fund | 0.21 | 0.14 | 0.10 | 67 | Municipal Bonds | CMNWX vs SRCMX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.25 | 0.13 | 0.12 | 72 | Large Cap Blend Equities | CMNWX vs SVPFX | |
| Principal Short-Term Income Fund | 0.26 | 0.13 | 0.11 | 76 | Short-Term Bond | CMNWX vs SRHQX |
See all 76 diversifiers for CMNWX
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