Looking to diversify beyond PMFMX? The mutual funds below have the lowest correlation with PMFMX — 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 PMFMX.
Best Diversifiers for PMFMX
1 mutual funds have low correlation with PMFMX (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 0.12, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.12 | 0.13 | 0.09 | 60 | Municipal Bonds | PMFMX vs PTEAX | |
| Principal Global Multi-Strategy Fund | 0.71 | 0.70 | 0.76 | 96 | Multistrategy | PMFMX vs PSMIX | |
| Quantified Common Ground Fund | 0.73 | 0.82 | 0.82 | 62 | Mid Cap Blend Equities | PMFMX vs QCGDX | |
| Principal Capital Appreciation Fund | 0.73 | 0.78 | 0.83 | 55 | Large Cap Blend Equities | PMFMX vs CMNWX | |
| Gotham Enhanced Return Fund | 0.74 | 0.76 | 0.81 | 83 | Mid Cap Blend Equities | PMFMX vs GENIX |
See all 27 diversifiers for PMFMX
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