Looking to diversify beyond PLSAX? The mutual funds below have historically moved differently from PLSAX, 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 PLSAX
1 mutual funds have low correlation with PLSAX (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 0.17, 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 | 0.17 | 0.13 | 0.11 | 70 | Municipal Bonds | PLSAX vs PTEAX | |
| Principal Diversified Select Real Asset Fund | 0.36 | 0.51 | 0.62 | 97 | Global Allocation | PLSAX vs PDSYX | |
| Principal Diversified Real Asset Fund | 0.41 | 0.53 | 0.61 | 87 | Global Allocation | PLSAX vs PDRDX | |
| Principal Capital Securities Fund | 0.46 | 0.35 | 0.33 | 77 | Preferred Stock | PLSAX vs PCSFX | |
| Principal Finisterre Emerging Markets Total Return... | 0.52 | 0.34 | 0.34 | 79 | Emerging Markets Bonds | PLSAX vs PFUMX |
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