Looking to diversify beyond DAGVX? The mutual funds below have the lowest correlation with DAGVX — 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 DAGVX.
Best Diversifiers for DAGVX
10 mutual funds have low correlation with DAGVX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Virginia Tax Free Bond Fund (PRVAX) (Municipal Bonds) with a 1Y correlation of 0.16, up from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.16 | 0.10 | 0.05 | 88 | Municipal Bonds | DAGVX vs PRVAX | |
| BNY Mellon Intermediate Municipal Bond Fund | 0.16 | 0.09 | 0.04 | 69 | Municipal Bonds | DAGVX vs DITEX | |
| BNY Mellon Opportunistic Municipal Securities Fund | 0.16 | 0.10 | 0.06 | 78 | Municipal Bonds | DAGVX vs PTEBX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.17 | 0.11 | 0.05 | 75 | Municipal Bonds | DAGVX vs DRNJX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.17 | 0.11 | 0.06 | 69 | High Yield Muni | DAGVX vs DHMBX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DAGVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DAGVX and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of 0.16, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | 0.16 | 0.31 | 0.35 | 66 | Technology | |
| Broadcom Inc. | 0.22 | 0.33 | 0.45 | 71 | Technology | |
| NVIDIA Corporation | 0.22 | 0.30 | 0.43 | 70 | Technology | |
| Apple Inc | 0.33 | 0.32 | 0.43 | 88 | Technology | |
| Amazon.com, Inc | 0.36 | 0.35 | 0.43 | 52 | Consumer Cyclical |
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