Looking to diversify beyond PBMPX? The mutual funds below have historically moved differently from PBMPX, 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 PBMPX
0 mutual funds have low correlation with PBMPX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Small-MidCap Dividend Income Fund (PMDIX) (Mid Cap Value Equities) with a 1Y correlation of 0.37, up from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Small-MidCap Dividend Income Fund | 0.37 | 0.26 | 0.20 | 61 | Mid Cap Value Equities | PBMPX vs PMDIX | |
| Holbrook Income Fund Class I | 0.37 | 0.31 | 0.39 | 98 | Intermediate Core-Plus Bond | PBMPX vs HOBIX | |
| Principal Global Multi-Strategy Fund | 0.40 | 0.25 | 0.17 | 97 | Multistrategy | PBMPX vs PSMIX | |
| Principal Equity Income Fund | 0.40 | 0.27 | 0.21 | 84 | Dividend, Large Cap Value Equities | PBMPX vs PQIAX | |
| Principal SmallCap S&P 600 Index Fund | 0.44 | 0.28 | 0.21 | 82 | Small Cap Blend Equities | PBMPX vs PSSMX |
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