Looking to diversify beyond DSL? The mutual funds below have the lowest correlation with DSL — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from DSL.
Best Diversifiers for DSL
8 mutual funds have low correlation with DSL (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.06, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.06 | 0.03 | 0.01 | 100 | High Yield Bonds | DSL vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.03 | 0.01 | 0.04 | 100 | High Yield Bonds | DSL vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.05 | 0.07 | 0.09 | 99 | High Yield Bonds | DSL vs RPHIX | |
| DoubleLine Low Duration Bond Fund Class N | 0.20 | 0.19 | 0.23 | 97 | Short-Term Bond | DSL vs DLSNX | |
| DoubleLine Low Duration Bond Fund | 0.21 | 0.22 | 0.23 | 97 | Short-Term Bond | DSL vs DBLSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DSL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DSL and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.10 | 0.04 | 0.08 | 70 | Consumer Defensive | |
| Antero Midstream Corporation | 0.04 | 0.19 | 0.28 | 73 | Energy | |
| DNP Select Income Fund Inc. | 0.18 | 0.24 | 0.28 | 88 | Financial Services | |
| Apple Inc | 0.24 | 0.23 | 0.31 | 88 | Technology | |
| Reaves Utility Income Trust | 0.30 | 0.27 | 0.34 | 81 | Financial Services |
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