Looking to diversify beyond PPSIX? The mutual funds below have historically moved differently from PPSIX, 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 PPSIX
1 mutual funds have low correlation with PPSIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.19, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.19 | 0.32 | 0.32 | 94 | Large Cap Value Equities | PPSIX vs SVAIX | |
| Principal Tax-Exempt Bond Fund | 0.36 | 0.40 | 0.37 | 70 | Municipal Bonds | PPSIX vs PTEAX | |
| Hamlin High Dividend Equity Fund | 0.38 | 0.36 | 0.37 | 59 | Large Cap Value Equities | PPSIX vs HHDVX | |
| Columbia Dividend Income Fund | 0.39 | 0.36 | 0.36 | 90 | Large Cap Value Equities | PPSIX vs GSFTX | |
| Calamos Convertible Fund | 0.41 | 0.38 | 0.43 | 70 | Convertible Bonds | PPSIX vs CCVIX |
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