Looking to diversify beyond DHAMX? The mutual funds below have historically moved differently from DHAMX, 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 DHAMX
2 mutual funds have low correlation with DHAMX (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, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.16 | 0.13 | 0.09 | 86 | Municipal Bonds | DHAMX vs PRVAX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.14 | 0.11 | 96 | Large Cap Blend Equities | DHAMX vs SVPFX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.36 | 0.32 | 0.26 | 71 | Short-Term Bond | DHAMX vs PRVBX | |
| North Square Preferred and Income Securities Fund | 0.46 | 0.35 | 0.38 | 54 | Preferred Stock | DHAMX vs ORDNX | |
| Barrett Opportunity Fund | 0.46 | 0.66 | 0.76 | 85 | Large Cap Blend Equities | DHAMX vs SAOPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DHAMX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is McKesson Corporation (MCK) (Healthcare) with a 1Y correlation of -0.06, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | -0.06 | 0.01 | 0.18 | 62 | Healthcare | |
| Occidental Petroleum Corporation | 0.00 | 0.16 | 0.39 | 68 | Energy | |
| Berkshire Hathaway Inc. | 0.07 | 0.31 | 0.50 | 61 | Financial Services | |
| Visa Inc. | 0.10 | 0.32 | 0.43 | 55 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.23 | 0.36 | 0.41 | 83 | Technology |
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