Looking to diversify beyond PISMX? The mutual funds below have historically moved differently from PISMX, 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 PISMX
0 mutual funds have low correlation with PISMX (below 0.3), 0 of which are negatively correlated. The least correlated is AMG Yacktman Special Opportunities Fund (YASLX) (Foreign Small & Mid Cap Equities) with a 1Y correlation of 0.57, down from 0.70 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AMG Yacktman Special Opportunities Fund | 0.57 | 0.61 | 0.70 | 55 | Foreign Small & Mid Cap Equities | PISMX vs YASLX | |
| Principal Equity Income Fund | 0.62 | 0.65 | 0.73 | 84 | Dividend, Large Cap Value Equities | PISMX vs PQIAX | |
| Principal Small-MidCap Dividend Income Fund | 0.62 | 0.64 | 0.70 | 64 | Mid Cap Value Equities | PISMX vs PMDIX | |
| Principal SmallCap S&P 600 Index Fund | 0.62 | 0.65 | 0.70 | 82 | Small Cap Blend Equities | PISMX vs PSSMX | |
| Kopernik Global All-Cap Fund | 0.68 | 0.59 | 0.65 | 66 | Foreign Small & Mid Cap Equities | PISMX vs KGGIX |
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