Looking to diversify beyond PSBMX? The mutual funds below have historically moved differently from PSBMX, 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 PSBMX
1 mutual funds have low correlation with PSBMX (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 0.13, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.13 | 0.12 | 0.09 | 70 | Municipal Bonds | PSBMX vs PTEAX | |
| DFA International Small Company Portfolio | 0.65 | 0.65 | 0.70 | 60 | Foreign Small & Mid Cap Equities, Small Cap Blend Equities | PSBMX vs DFISX | |
| Hennessy Cornerstone Growth Fund | 0.70 | 0.81 | 0.81 | 53 | Small Cap Blend Equities | PSBMX vs HFCGX | |
| Auer Growth Fund | 0.71 | 0.77 | 0.80 | 91 | Small Cap Blend Equities | PSBMX vs AUERX | |
| Principal Global Multi-Strategy Fund | 0.72 | 0.70 | 0.74 | 97 | Multistrategy | PSBMX vs PSMIX |
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