Looking to diversify beyond PBCKX? The mutual funds below have historically moved differently from PBCKX, 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 PBCKX
5 mutual funds have low correlation with PBCKX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Opportunistic Municipal Fund (PMOAX) (High Yield Muni) with a 1Y correlation of 0.20, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Opportunistic Municipal Fund | 0.20 | 0.13 | 0.13 | 85 | High Yield Muni | PBCKX vs PMOAX | |
| Principal Tax-Exempt Bond Fund | 0.20 | 0.15 | 0.14 | 61 | Municipal Bonds | PBCKX vs PTEAX | |
| Principal Diversified Select Real Asset Fund | 0.21 | 0.40 | 0.53 | 97 | Global Allocation | PBCKX vs PDSYX | |
| Principal Diversified Real Asset Fund | 0.22 | 0.40 | 0.51 | 87 | Global Allocation | PBCKX vs PDRDX | |
| Principal California Municipal Fund | 0.24 | 0.15 | 0.13 | 62 | Municipal Bonds | PBCKX vs SRCMX |
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