Looking to diversify beyond DNYMX? The mutual funds below have the lowest correlation with DNYMX — 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 DNYMX.
Best Diversifiers for DNYMX
451 mutual funds have low correlation with DNYMX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | -0.01 | 0.03 | 0.04 | 99 | Municipal Bonds | DNYMX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.01 | -0.04 | 0.02 | 99 | Municipal Bonds | DNYMX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.04 | 0.01 | 0.03 | 99 | Municipal Bonds | DNYMX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.05 | 0.24 | 0.37 | 99 | Municipal Bonds | DNYMX vs DFSMX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.06 | 0.18 | 0.29 | 97 | Municipal Bonds | DNYMX vs FGNSX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements DNYMX
Add DNYMX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with DNYMX