Looking to diversify beyond DLDRX? The mutual funds below have historically moved differently from DLDRX, 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 DLDRX
2 mutual funds have low correlation with DLDRX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Floating Rate Income Fund (DFLYX) (Bank Loan) with a 1Y correlation of 0.16, roughly unchanged from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Floating Rate Income Fund | 0.16 | 0.19 | 0.22 | 84 | Bank Loan | DLDRX vs DFLYX | |
| NXG Cushing® Midstream Energy Fund | 0.26 | 0.36 | 0.51 | 53 | Energy Equities | DLDRX vs SRV | |
| Fidelity Growth Company K6 Fund | 0.31 | 0.38 | 0.43 | 54 | Large Cap Growth Equities | DLDRX vs FGKFX | |
| BNY Mellon Global Real Estate Securities Fund | 0.31 | 0.37 | 0.41 | 54 | REIT | DLDRX vs DRLIX | |
| PGIM Global Real Estate Fund | 0.32 | 0.40 | 0.42 | 56 | REIT | DLDRX vs PURZX |
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