Looking to diversify beyond DBMYX? The mutual funds below have historically moved differently from DBMYX, 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 DBMYX
8 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 0.22, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon New York AMT-Free Municipal Bond Fund | 0.22 | 0.15 | 0.14 | 81 | Municipal Bonds | DBMYX vs PSNYX | |
| BNY Mellon Short-Intermediate Municipal Bond Fund | 0.23 | 0.15 | 0.14 | 72 | Municipal Bonds | DBMYX vs DSIBX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.24 | 0.15 | 0.14 | 74 | Municipal Bonds | DBMYX vs DRNJX | |
| BNY Mellon AMT-Free Municipal Bond Fund | 0.25 | 0.16 | 0.14 | 88 | Municipal Bonds | DBMYX vs DRMBX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.25 | 0.16 | 0.14 | 89 | High Yield Muni | DBMYX vs DHMBX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements DBMYX
Add DBMYX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with DBMYX