Looking to diversify beyond DRGVX? The mutual funds below have historically moved differently from DRGVX, 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 DRGVX
11 mutual funds have low correlation with DRGVX (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 0.16, roughly unchanged from 0.06 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 | 0.16 | 0.12 | 0.06 | 72 | Municipal Bonds | DRGVX vs DSIBX | |
| GQG Partners US Quality Dividend Income Fund | 0.17 | 0.54 | 0.69 | 62 | Quality Factor, Large Cap Value Equities | DRGVX vs GQHPX | |
| BNY Mellon Intermediate Municipal Bond Fund | 0.20 | 0.10 | 0.05 | 64 | Municipal Bonds | DRGVX vs DITEX | |
| BNY Mellon New York AMT-Free Municipal Bond Fund | 0.20 | 0.12 | 0.06 | 81 | Municipal Bonds | DRGVX vs PSNYX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.21 | 0.11 | 0.06 | 74 | Municipal Bonds | DRGVX vs DRNJX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DRGVX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.12, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.12 | 0.26 | 0.30 | 97 | Healthcare | |
| Dell Technologies Inc. | 0.33 | 0.39 | 0.49 | 96 | Technology | |
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.47 | 0.56 | 0.60 | 66 | Financial Services |
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