Looking to diversify beyond PVMIX? The mutual funds below have historically moved differently from PVMIX, 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 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 0.20, roughly unchanged from 0.10 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 | 0.20 | 0.16 | 0.10 | 55 | Municipal Bonds | PVMIX vs PTEAX | |
| Principal Capital Appreciation Fund | 0.55 | 0.70 | 0.79 | 50 | Large Cap Blend Equities | PVMIX vs CMNWX | |
| Fidelity 500 Index Fund | 0.58 | 0.70 | 0.79 | 75 | S&P 500 | PVMIX vs FXAIX | |
| Principal Global Multi-Strategy Fund | 0.63 | 0.66 | 0.74 | 97 | Multistrategy | PVMIX vs PSMIX | |
| HW Opportunities MP Fund | 0.65 | 0.74 | 0.81 | 65 | Mid Cap Value Equities | PVMIX vs HOMPX |
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