Looking to diversify beyond PSSMX? The mutual funds below have the lowest correlation with PSSMX — 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 PSSMX.
Best Diversifiers for PSSMX
4 mutual funds have low correlation with PSSMX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Opportunistic Municipal Fund (PMOAX) (High Yield Muni) with a 1Y correlation of 0.10, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Opportunistic Municipal Fund | 0.10 | 0.12 | 0.08 | 55 | High Yield Muni | PSSMX vs PMOAX | |
| Principal Tax-Exempt Bond Fund | 0.11 | 0.13 | 0.09 | 56 | Municipal Bonds | PSSMX vs PTEAX | |
| Principal Short-Term Income Fund | 0.17 | 0.14 | 0.11 | 79 | Short-Term Bond | PSSMX vs SRHQX | |
| Principal California Municipal Fund | 0.19 | 0.15 | 0.10 | 59 | Municipal Bonds | PSSMX vs SRCMX | |
| Principal Capital Securities Fund | 0.36 | 0.33 | 0.32 | 76 | Preferred Stock/Convertible Bonds | PSSMX vs PCSFX |
See all 62 diversifiers for PSSMX
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