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
10 mutual funds have low correlation with DNLAX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Opportunistic Municipal Securities Fund (PTEBX) (Municipal Bonds) with a 1Y correlation of 0.03, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Opportunistic Municipal Securities Fund | 0.03 | 0.02 | -0.01 | 87 | Municipal Bonds | DNLAX vs PTEBX | |
| BNY Mellon AMT-Free Municipal Bond Fund | 0.03 | 0.01 | -0.02 | 87 | Municipal Bonds | DNLAX vs DRMBX | |
| BNY Mellon New York AMT-Free Municipal Bond Fund | 0.03 | 0.02 | -0.02 | 81 | Municipal Bonds | DNLAX vs PSNYX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.04 | 0.02 | -0.02 | 87 | High Yield Muni | DNLAX vs DHMBX | |
| BNY MellonCalifornia AMT-Free Municipal Bond Fund | 0.04 | 0.01 | -0.02 | 75 | Municipal Bonds | DNLAX vs DRCAX |
See all 50 diversifiers for DNLAX
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements DNLAX
Add DNLAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with DNLAX