Looking to diversify beyond DNAVX? The mutual funds below have historically moved differently from DNAVX, 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 DNAVX
10 mutual funds have low correlation with DNAVX (below 0.3), 0 of which are negatively correlated. The least correlated is Dunham Long/Short Credit Fund (DCAIX) (Nontraditional Bonds) with a 1Y correlation of 0.03, up from -0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Dunham Long/Short Credit Fund | 0.03 | -0.17 | -0.19 | 72 | Nontraditional Bonds | DNAVX vs DCAIX | |
| Dunham Floating Rate Bond Fund | 0.13 | 0.22 | 0.29 | 59 | Bank Loan | DNAVX vs DAFRX | |
| BlackRock Tactical Opportunities Fund | 0.14 | 0.29 | 0.20 | 81 | Multistrategy | DNAVX vs PCBAX | |
| Dunham Monthly Distribution Fund | 0.15 | 0.30 | 0.37 | 89 | Event Driven | DNAVX vs DAMDX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.18 | 0.22 | 0.10 | 98 | Multistrategy | DNAVX vs EGRAX |
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