Looking to diversify beyond PMOAX? The mutual funds below have historically moved differently from PMOAX, 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 PMOAX
7 mutual funds have low correlation with PMOAX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Global Multi-Strategy Fund (PSMIX) (Multistrategy) with a 1Y correlation of 0.22, up from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Global Multi-Strategy Fund | 0.22 | 0.14 | 0.09 | 97 | Multistrategy | PMOAX vs PSMIX | |
| Principal SmallCap S&P 600 Index Fund | 0.22 | 0.13 | 0.10 | 82 | Small Cap Blend Equities | PMOAX vs PSSMX | |
| Principal Equity Income Fund | 0.24 | 0.16 | 0.11 | 84 | Dividend, Large Cap Value Equities | PMOAX vs PQIAX | |
| Principal Small-MidCap Dividend Income Fund | 0.25 | 0.15 | 0.11 | 64 | Mid Cap Value Equities | PMOAX vs PMDIX | |
| Principal SAM Strategic Growth Portfolio | 0.25 | 0.16 | 0.14 | 64 | Diversified Portfolio | PMOAX vs SACAX |
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