Looking to diversify beyond DREVX? The mutual funds below have historically moved differently from DREVX, 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 DREVX
8 mutual funds have low correlation with DREVX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Short-Intermediate Municipal Bond Fund (DSIBX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Short-Intermediate Municipal Bond Fund | 0.14 | 0.10 | 0.08 | 57 | Municipal Bonds | DREVX vs DSIBX | |
| BNY MellonCalifornia AMT-Free Municipal Bond Fund | 0.17 | 0.10 | 0.09 | 61 | Municipal Bonds | DREVX vs DRCAX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.19 | 0.10 | 0.10 | 77 | High Yield Muni | DREVX vs DHMBX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.19 | 0.09 | 0.08 | 58 | Municipal Bonds | DREVX vs DRNJX | |
| BNY Mellon Opportunistic Municipal Securities Fund | 0.19 | 0.09 | 0.09 | 73 | Municipal Bonds | DREVX vs PTEBX |
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