Looking to diversify beyond DNYMX? The mutual funds below have historically moved differently from DNYMX, 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 DNYMX
386 mutual funds have low correlation with DNYMX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.02, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.02 | 0.02 | 0.03 | 99 | Municipal Bonds | DNYMX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.03 | 0.03 | 0.03 | 99 | Municipal Bonds | DNYMX vs FHMIX | |
| DFA U.S. Targeted Value Portfolio Institutional Cl... | 0.06 | 0.12 | 0.07 | 84 | Small Cap Value Equities | DNYMX vs DFFVX | |
| abrdn Ultra Short Municipal Income Fund | 0.07 | -0.01 | 0.03 | 100 | Municipal Bonds | DNYMX vs ATOIX | |
| DFA U.S. Small Cap Portfolio | 0.07 | 0.11 | 0.07 | 72 | Small Cap Blend Equities | DNYMX vs DFSTX |
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