Looking to diversify beyond DLY? The mutual funds below have the lowest correlation with DLY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from DLY.
Best Diversifiers for DLY
15 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 -0.06, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Strategic Commodity Fund | -0.06 | 0.01 | 0.11 | 88 | Commodities | DLY vs DBCMX | |
| Nationwide Strategic Income A | 0.07 | 0.05 | 0.05 | 99 | Multisector Bonds | DLY vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.10 | 0.10 | 0.07 | 99 | Multisector Bonds | DLY vs NWXHX | |
| Easterly Income Opportunities Fund | 0.11 | 0.16 | 0.18 | 79 | Multisector Bonds | DLY vs JSVIX | |
| CrossingBridge Low Duration High Yield Fund | 0.11 | 0.15 | 0.16 | 97 | Multisector Bonds | DLY vs CBLDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DLY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DLY and solid risk/return profiles. The least correlated is Antero Midstream Corporation (AM) (Energy) with a 1Y correlation of -0.03, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Antero Midstream Corporation | -0.03 | 0.15 | 0.24 | 64 | Energy | |
| Energy Transfer LP | -0.01 | 0.14 | 0.23 | 73 | Energy | |
| Brookfield Renewable Partners L.P. | 0.21 | 0.22 | 0.26 | 87 | Utilities | |
| DNP Select Income Fund Inc. | 0.25 | 0.26 | 0.28 | 83 | Financial Services | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.30 | 0.33 | 0.34 | 78 | Financial Services |
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