Looking to diversify beyond DBMYX? The mutual funds below have the lowest correlation with DBMYX — 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 DBMYX.
Best Diversifiers for DBMYX
9 mutual funds have low correlation with DBMYX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon New York AMT-Free Municipal Bond Fund | 0.16 | 0.14 | 0.13 | 60 | Municipal Bonds | DBMYX vs PSNYX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.16 | 0.14 | 0.13 | 55 | High Yield Muni | DBMYX vs DHMBX | |
| BNY Mellon Opportunistic Municipal Securities Fund | 0.18 | 0.14 | 0.13 | 68 | Municipal Bonds | DBMYX vs PTEBX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.18 | 0.14 | 0.13 | 65 | Municipal Bonds | DBMYX vs DRNJX | |
| BNY Mellon Short-Intermediate Municipal Bond Fund | 0.18 | 0.14 | 0.13 | 79 | Municipal Bonds | DBMYX vs DSIBX |
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