Looking to diversify beyond DSL? The mutual funds below have historically moved differently from DSL, 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 DSL
13 mutual funds have low correlation with DSL (below 0.3), 2 of which are negatively correlated. The least correlated is DoubleLine Strategic Commodity Fund (DBCMX) (Commodities) with a 1Y correlation of -0.11, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Strategic Commodity Fund | -0.11 | -0.05 | 0.05 | 85 | Commodities | DSL vs DBCMX | |
| Pioneer ILS Interval Fund | -0.07 | 0.03 | 0.01 | 100 | High Yield Bonds | DSL vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.01 | 0.06 | 0.09 | 100 | High Yield Bonds | DSL vs RPHIX | |
| Fairholme Focused Income Fund | 0.05 | 0.17 | 0.30 | 73 | High Yield Bonds | DSL vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.07 | -0.00 | 0.04 | 100 | Bank Loan, High Yield Bonds | DSL vs CCLFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DSL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.11 | 0.03 | 0.07 | 66 | Consumer Defensive | |
| Enbridge Inc. | -0.07 | 0.11 | 0.21 | 85 | Energy | |
| Antero Midstream Corporation | -0.03 | 0.18 | 0.27 | 78 | Energy | |
| DNP Select Income Fund Inc. | 0.13 | 0.24 | 0.27 | 89 | Financial Services | |
| Apple Inc | 0.21 | 0.21 | 0.30 | 89 | Technology |
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