Looking to diversify beyond PLGIX? The mutual funds below have historically moved differently from PLGIX, 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 PLGIX
6 mutual funds have low correlation with PLGIX (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 0.16, roughly unchanged from 0.11 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 | 0.16 | 0.09 | 0.11 | 70 | Municipal Bonds | PLGIX vs PTEAX | |
| Principal Opportunistic Municipal Fund | 0.17 | 0.09 | 0.12 | 91 | High Yield Muni | PLGIX vs PMOAX | |
| Principal Diversified Select Real Asset Fund | 0.20 | 0.35 | 0.49 | 97 | Global Allocation | PLGIX vs PDSYX | |
| Principal California Municipal Fund | 0.21 | 0.12 | 0.12 | 71 | Municipal Bonds | PLGIX vs SRCMX | |
| Principal Diversified Real Asset Fund | 0.22 | 0.36 | 0.47 | 87 | Global Allocation | PLGIX vs PDRDX |
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