Looking to diversify beyond DRMBX? The mutual funds below have historically moved differently from DRMBX, 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 DRMBX
15 mutual funds have low correlation with DRMBX (below 0.3), 1 of which are negatively correlated. The least correlated is BNY Mellon Natural Resources Fund Class A (DNLAX) (Energy Equities) with a 1Y correlation of -0.01, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Natural Resources Fund Class A | -0.01 | -0.00 | -0.02 | 85 | Energy Equities | DRMBX vs DNLAX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.20 | 0.28 | — | 100 | Municipal Bonds | DRMBX vs DFABX | |
| BNY Mellon Global Real Return Fund - Class I | 0.22 | 0.25 | 0.23 | 82 | Tactical Allocation | DRMBX vs DRRIX | |
| BNY Mellon Smallcap Stock Index Fund | 0.23 | 0.15 | 0.11 | 82 | Small Cap Blend Equities | DRMBX vs DISSX | |
| BNY Mellon Dynamic Value Fund | 0.23 | 0.12 | 0.06 | 88 | Large Cap Value Equities | DRMBX vs DAGVX |
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