Looking to diversify beyond PVMIX? The mutual funds below have the lowest correlation with PVMIX — 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 PVMIX.
Best Diversifiers for PVMIX
1 mutual funds have low correlation with PVMIX (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 0.16, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.16 | 0.15 | 0.09 | 62 | Municipal Bonds | PVMIX vs PTEAX | |
| Fidelity 500 Index Fund | 0.61 | 0.71 | 0.80 | 52 | S&P 500 | PVMIX vs FXAIX | |
| Principal Global Multi-Strategy Fund | 0.66 | 0.67 | 0.75 | 95 | Multistrategy | PVMIX vs PSMIX | |
| Principal LifeTime Hybrid 2055 Fund | 0.71 | 0.82 | 0.87 | 54 | Target Retirement Date | PVMIX vs PLTNX | |
| Invesco Value Opportunities Fund | 0.76 | 0.82 | 0.87 | 76 | Mid Cap Value Equities | PVMIX vs VVOAX |
See all 54 diversifiers for PVMIX
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Diversification Analysis
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