Looking to diversify beyond DRNJX? The mutual funds below have historically moved differently from DRNJX, 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 DRNJX
16 mutual funds have low correlation with DRNJX (below 0.3), 0 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 | 0.01 | -0.02 | 86 | Energy Equities | DRNJX vs DNLAX | |
| BNY Mellon Global Real Return Fund - Class I | 0.18 | 0.24 | 0.22 | 85 | Tactical Allocation | DRNJX vs DRRIX | |
| BNY Mellon Dynamic Value Fund | 0.21 | 0.11 | 0.06 | 94 | Large Cap Value Equities | DRNJX vs DAGVX | |
| BNY Mellon Dynamic Value Fund Class I | 0.21 | 0.11 | 0.06 | 94 | Large Cap Value Equities | DRNJX vs DRGVX | |
| JPMorgan Ultra-Short Municipal Fund | 0.23 | 0.32 | 0.38 | 98 | Municipal Bonds | DRNJX vs USMSX |
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