Looking to diversify beyond DLY? The mutual funds below have historically moved differently from DLY, 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 DLY
10 mutual funds have low correlation with DLY (below 0.3), 1 of which are negatively correlated. The least correlated is DoubleLine Strategic Commodity Fund (DBCMX) (Commodities) with a 1Y correlation of -0.10, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Strategic Commodity Fund | -0.10 | -0.01 | 0.10 | 85 | Commodities | DLY vs DBCMX | |
| Easterly Income Opportunities Fund | 0.12 | 0.16 | 0.18 | 82 | Multisector Bonds | DLY vs JSVIX | |
| CrossingBridge Low Duration High Yield Fund | 0.15 | 0.14 | 0.15 | 96 | Multisector Bonds | DLY vs CBLDX | |
| Nationwide Strategic Income A | 0.16 | 0.08 | 0.05 | 99 | Multisector Bonds | DLY vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.20 | 0.12 | 0.07 | 99 | Multisector Bonds | DLY vs NWXHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DLY, 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 Enbridge Inc. (ENB) (Energy) with a 1Y correlation of -0.06, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.06 | 0.13 | 0.23 | 85 | Energy | |
| Energy Transfer LP | -0.05 | 0.14 | 0.23 | 81 | Energy | |
| Antero Midstream Corporation | -0.03 | 0.13 | 0.22 | 78 | Energy | |
| Brookfield Renewable Partners L.P. | 0.18 | 0.22 | 0.25 | 72 | Utilities | |
| DNP Select Income Fund Inc. | 0.23 | 0.27 | 0.28 | 89 | Financial Services |
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