Looking to diversify beyond PLVIX? The mutual funds below have historically moved differently from PLVIX, 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 PLVIX
2 mutual funds have low correlation with PLVIX (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 0.18, roughly unchanged from 0.09 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 | 0.18 | 0.15 | 0.09 | 70 | Municipal Bonds | PLVIX vs PTEAX | |
| GQG Partners US Quality Dividend Income Fund | 0.24 | 0.56 | 0.69 | 62 | Quality Factor, Large Cap Value Equities | PLVIX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | 0.31 | 0.59 | 0.71 | 93 | Large Cap Value Equities | PLVIX vs LEXCX | |
| AMG Yacktman Focused Fund | 0.40 | 0.63 | 0.76 | 89 | Large Cap Value Equities | PLVIX vs YAFFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.48 | 0.59 | 0.71 | 94 | Large Cap Value Equities | PLVIX vs SVAIX |
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