Looking to diversify beyond DNLAX? The mutual funds below have the lowest correlation with DNLAX — 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 DNLAX.
Best Diversifiers for DNLAX
9 mutual funds have low correlation with DNLAX (below 0.3), 5 of which are negatively correlated. The least correlated is BNY Mellon AMT-Free Municipal Bond Fund (DRMBX) (Municipal Bonds) with a 1Y correlation of -0.03, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon AMT-Free Municipal Bond Fund | -0.03 | 0.01 | -0.02 | 76 | Municipal Bonds | DNLAX vs DRMBX | |
| BNY Mellon Opportunistic Municipal Securities Fund | -0.02 | 0.02 | -0.02 | 72 | Municipal Bonds | DNLAX vs PTEBX | |
| BNY Mellon High Yield Municipal Bond Fund | -0.02 | 0.01 | -0.02 | 62 | High Yield Muni | DNLAX vs DHMBX | |
| BNY Mellon New York AMT-Free Municipal Bond Fund | -0.01 | 0.02 | -0.02 | 67 | Municipal Bonds | DNLAX vs PSNYX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | -0.00 | 0.01 | -0.01 | 72 | Municipal Bonds | DNLAX vs DRNJX |
See all 47 diversifiers for DNLAX
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