Looking to diversify beyond DHMBX? The mutual funds below have historically moved differently from DHMBX, 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 DHMBX
9 mutual funds have low correlation with DHMBX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Natural Resources Fund Class A (DNLAX) (Energy Equities) with a 1Y correlation of 0.00, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Natural Resources Fund Class A | 0.00 | 0.01 | -0.02 | 85 | Energy Equities | DHMBX vs DNLAX | |
| BNY Mellon Global Real Return Fund - Class I | 0.20 | 0.23 | 0.22 | 82 | Tactical Allocation | DHMBX vs DRRIX | |
| BNY Mellon S&P 500 Index Fund | 0.21 | 0.14 | 0.12 | 59 | S&P 500 | DHMBX vs PEOPX | |
| BNY Mellon Institutional S&P 500 Stock Index Fund | 0.21 | 0.14 | 0.13 | 62 | S&P 500 | DHMBX vs DSPIX | |
| BNY Mellon Dynamic Value Fund | 0.22 | 0.12 | 0.07 | 88 | Large Cap Value Equities | DHMBX vs DAGVX |
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