Looking to diversify beyond DLQAX? The mutual funds below have historically moved differently from DLQAX, 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 DLQAX
1 mutual funds have low correlation with DLQAX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon AMT-Free Municipal Bond Fund (DRMBX) (Municipal Bonds) with a 1Y correlation of 0.22, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon AMT-Free Municipal Bond Fund | 0.22 | 0.13 | 0.10 | 88 | Municipal Bonds | DLQAX vs DRMBX | |
| BNY Mellon Natural Resources Fund Class A | 0.41 | 0.51 | 0.55 | 85 | Energy Equities | DLQAX vs DNLAX | |
| Adams Diversified Equity Fund, Inc. | 0.74 | 0.82 | 0.88 | 83 | Large Cap Blend Equities | DLQAX vs ADX | |
| BNY Mellon Smallcap Stock Index Fund | 0.74 | 0.73 | 0.79 | 82 | Small Cap Blend Equities | DLQAX vs DISSX | |
| BNY Mellon Global Real Return Fund - Class I | 0.74 | 0.74 | 0.65 | 82 | Tactical Allocation | DLQAX vs DRRIX |
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