Looking to diversify beyond PLGIX? The mutual funds below have the lowest correlation with PLGIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PLGIX.
Best Diversifiers for PLGIX
5 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 0.14, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.14 | 0.10 | 0.10 | 64 | Municipal Bonds | PLGIX vs PTEAX | |
| Principal Opportunistic Municipal Fund | 0.15 | 0.10 | 0.11 | 68 | High Yield Muni | PLGIX vs PMOAX | |
| Principal California Municipal Fund | 0.21 | 0.12 | 0.12 | 67 | Municipal Bonds | PLGIX vs SRCMX | |
| Principal Diversified Real Asset Fund | 0.26 | 0.38 | 0.48 | 56 | Global Allocation | PLGIX vs PDRDX | |
| Principal Short-Term Income Fund | 0.26 | 0.12 | 0.12 | 76 | Short-Term Bond | PLGIX vs SRHQX |
See all 69 diversifiers for PLGIX
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Diversification Analysis
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