Looking to diversify beyond PMAQX? The mutual funds below have historically moved differently from PMAQX, 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 PMAQX
2 mutual funds have low correlation with PMAQX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Emerging Markets Value Portfolio (DFEVX) (Emerging Markets Equities) with a 1Y correlation of 0.26, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Emerging Markets Value Portfolio | 0.26 | 0.38 | 0.48 | 66 | Emerging Markets Equities | PMAQX vs DFEVX | |
| Principal Tax-Exempt Bond Fund | 0.29 | 0.20 | 0.16 | 61 | Municipal Bonds | PMAQX vs PTEAX | |
| Principal Diversified Select Real Asset Fund | 0.35 | 0.55 | 0.63 | 97 | Global Allocation | PMAQX vs PDSYX | |
| Needham Growth Fund | 0.35 | 0.53 | 0.67 | 56 | Mid Cap Growth Equities | PMAQX vs NEEGX | |
| Principal Capital Securities Fund | 0.35 | 0.37 | 0.35 | 74 | Preferred Stock | PMAQX vs PCSFX |
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