Looking to diversify beyond PQIAX? The mutual funds below have the lowest correlation with PQIAX — 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 PQIAX.
Best Diversifiers for PQIAX
5 mutual funds have low correlation with PQIAX (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 0.15, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.15 | 0.16 | 0.11 | 64 | Municipal Bonds | PQIAX vs PTEAX | |
| Principal Opportunistic Municipal Fund | 0.17 | 0.16 | 0.11 | 68 | High Yield Muni | PQIAX vs PMOAX | |
| Principal California Municipal Fund | 0.24 | 0.19 | 0.12 | 67 | Municipal Bonds | PQIAX vs SRCMX | |
| Principal Short-Term Income Fund | 0.25 | 0.18 | 0.13 | 76 | Short-Term Bond | PQIAX vs SRHQX | |
| Federated Hermes Equity Income Fund | 0.26 | 0.60 | 0.78 | 65 | Large Cap Value Equities | PQIAX vs LEIFX |
See all 79 diversifiers for PQIAX
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