Looking to diversify beyond DRRIX? The mutual funds below have historically moved differently from DRRIX, 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 DRRIX
10 mutual funds have low correlation with DRRIX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of 0.02, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | 0.02 | 0.24 | 0.18 | 85 | Tactical Allocation | DRRIX vs PBAIX | |
| BNY Mellon New Jersey Municipal Bond Fund Class A | 0.18 | 0.24 | 0.22 | 66 | Municipal Bonds | DRRIX vs DRNJX | |
| BNY Mellon New York AMT-Free Municipal Bond Fund | 0.18 | 0.23 | 0.22 | 73 | Municipal Bonds | DRRIX vs PSNYX | |
| BNY Mellon Short-Intermediate Municipal Bond Fund | 0.19 | 0.22 | 0.20 | 65 | Municipal Bonds | DRRIX vs DSIBX | |
| BNY Mellon High Yield Municipal Bond Fund | 0.20 | 0.23 | 0.22 | 83 | High Yield Muni | DRRIX vs DHMBX |
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