The quantity P π µ ξ, where ξ is one of the muon decay parameters and P π µ is the degree of muon polarization in pion decay, has been measured. The value P π µ ξ = 1.0003±0.0006 (stat.)±0.0038 (syst.) was obtained. This result agrees with previous measurements but is over a factor of two more precise. It also agrees with the Standard Model prediction for P π µ ξ and thus leads to restrictions on left-right symmetric models.