Looking to diversify beyond PSBMX? The mutual funds below have the lowest correlation with PSBMX — 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 PSBMX.
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 0.09, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.09 | 0.11 | 0.08 | 59 | Municipal Bonds | PSBMX vs PTEAX | |
| Principal Global Multi-Strategy Fund | 0.70 | 0.69 | 0.74 | 97 | Multistrategy | PSBMX vs PSMIX | |
| Auer Growth Fund | 0.73 | 0.79 | 0.81 | 90 | Small Cap Blend Equities | PSBMX vs AUERX | |
| Voya Index Plus SmallCap Portfolio | 0.76 | 0.85 | 0.90 | 77 | Small Cap Blend Equities | PSBMX vs IPSIX | |
| Principal Capital Appreciation Fund | 0.77 | 0.78 | 0.82 | 55 | Large Cap Blend Equities | PSBMX vs CMNWX |
See all 35 diversifiers for PSBMX
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