Looking to diversify beyond PPSIX? The mutual funds below have the lowest correlation with PPSIX — 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 PPSIX.
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 0.22, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.22 | 0.34 | 0.32 | 70 | Large Cap Value Equities | PPSIX vs SVAIX | |
| Columbia Dividend Income Fund | 0.35 | 0.35 | 0.35 | 68 | Large Cap Value Equities | PPSIX vs GSFTX | |
| Principal Tax-Exempt Bond Fund | 0.36 | 0.39 | 0.37 | 59 | Municipal Bonds | PPSIX vs PTEAX | |
| Fidelity Advisor Convertible Securities Fund Class... | 0.38 | 0.37 | 0.40 | 88 | Preferred Stock/Convertible Bonds | PPSIX vs FCCVX | |
| Fidelity Advisor Convertible Securities Fund Class... | 0.38 | 0.37 | 0.40 | 90 | Preferred Stock/Convertible Bonds | PPSIX vs FIQVX |
See all 30 diversifiers for PPSIX
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