Looking to diversify beyond DRGVX? The mutual funds below have the lowest correlation with DRGVX — 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 DRGVX.
Best Diversifiers for DRGVX
10 mutual funds have low correlation with DRGVX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Intermediate Municipal Bond Fund (DITEX) (Municipal Bonds) with a 1Y correlation of 0.16, up from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Intermediate Municipal Bond Fund | 0.16 | 0.09 | 0.04 | 68 | Municipal Bonds | DRGVX vs DITEX | |
| BNY Mellon Opportunistic Municipal Securities Fund | 0.17 | 0.10 | 0.06 | 75 | Municipal Bonds | DRGVX vs PTEBX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.17 | 0.11 | 0.06 | 68 | High Yield Muni | DRGVX vs DHMBX | |
| BNY Mellon Short-Intermediate Municipal Bond Fund | 0.17 | 0.11 | 0.06 | 77 | Municipal Bonds | DRGVX vs DSIBX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.18 | 0.10 | 0.05 | 73 | Municipal Bonds | DRGVX vs DRNJX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DRGVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DRGVX and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.15, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.15 | 0.26 | 0.31 | 95 | Healthcare | |
| Dell Technologies Inc. | 0.37 | 0.40 | 0.50 | 96 | Technology | |
| Cohen & Steers Quality Income Realty Fund | 0.49 | 0.56 | 0.60 | 59 | Financial Services |
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