Looking to diversify beyond DEVDX? The mutual funds below have the lowest correlation with DEVDX — 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 DEVDX.
Best Diversifiers for DEVDX
11 mutual funds have low correlation with DEVDX (below 0.3), 0 of which are negatively correlated. The least correlated is The Merger Fund Class I (MERIX) (Event Driven) with a 1Y correlation of 0.04, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| The Merger Fund Class I | 0.04 | 0.25 | 0.29 | 98 | Event Driven | DEVDX vs MERIX | |
| The Merger Fund | 0.07 | 0.24 | 0.28 | 97 | Event Driven | DEVDX vs MERFX | |
| Vivaldi Merger Arbitrage Fund Class I | 0.10 | 0.13 | 0.20 | 98 | Event Driven | DEVDX vs VARBX | |
| Dunham Monthly Distribution Fund | 0.21 | 0.34 | 0.33 | 96 | Event Driven | DEVDX vs DAMDX | |
| NexPoint Merger Arbitrage Fund | 0.22 | 0.29 | 0.31 | 99 | Event Driven | DEVDX vs HMEZX |
See all 15 diversifiers for DEVDX
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