Looking to diversify beyond PHTQX? The mutual funds below have historically moved differently from PHTQX, 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 PHTQX
1 mutual funds have low correlation with PHTQX (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 0.29, roughly unchanged from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.29 | 0.26 | 0.23 | 70 | Municipal Bonds | PHTQX vs PTEAX | |
| MFS Value Fund | 0.57 | 0.69 | 0.78 | 70 | Large Cap Value Equities | PHTQX vs MEIKX | |
| Principal Small-MidCap Dividend Income Fund | 0.73 | 0.78 | 0.83 | 64 | Mid Cap Value Equities | PHTQX vs PMDIX | |
| Principal Equity Income Fund | 0.74 | 0.80 | 0.85 | 84 | Dividend, Large Cap Value Equities | PHTQX vs PQIAX | |
| Principal SmallCap S&P 600 Index Fund | 0.79 | 0.81 | 0.83 | 82 | Small Cap Blend Equities | PHTQX vs PSSMX |
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