Looking to diversify beyond DSCVX? The mutual funds below have historically moved differently from DSCVX, 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 DSCVX
0 mutual funds have low correlation with DSCVX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon Global Real Return Fund - Class I (DRRIX) (Tactical Allocation) with a 1Y correlation of 0.40, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Global Real Return Fund - Class I | 0.40 | 0.58 | 0.53 | 79 | Tactical Allocation | DSCVX vs DRRIX | |
| Fidelity 500 Index Fund | 0.43 | 0.66 | 0.75 | 59 | S&P 500 | DSCVX vs FXAIX | |
| BNY Mellon Institutional S&P 500 Stock Index Fund | 0.44 | 0.66 | 0.76 | 58 | S&P 500 | DSCVX vs DSPIX | |
| BNY Mellon S&P 500 Index Fund | 0.44 | 0.66 | 0.76 | 55 | S&P 500 | DSCVX vs PEOPX | |
| BNY Mellon Natural Resources Fund Class A | 0.44 | 0.61 | 0.63 | 85 | Energy Equities | DSCVX vs DNLAX |
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