Looking to diversify beyond MPBFX? The mutual funds below have historically moved differently from MPBFX, 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 MPBFX
2 mutual funds have low correlation with MPBFX (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 0.06, roughly unchanged from 0.01 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 | 0.06 | 0.06 | 0.01 | 85 | Energy Equities | MPBFX vs DNLAX | |
| BNY Mellon Global Real Return Fund - Class I | 0.23 | 0.29 | 0.27 | 82 | Tactical Allocation | MPBFX vs DRRIX | |
| BNY Mellon Dynamic Value Fund | 0.31 | 0.20 | 0.12 | 88 | Large Cap Value Equities | MPBFX vs DAGVX | |
| BNY Mellon Dynamic Value Fund Class I | 0.32 | 0.21 | 0.12 | 88 | Large Cap Value Equities | MPBFX vs DRGVX | |
| BNY Mellon S&P 500 Index Fund | 0.33 | 0.22 | 0.17 | 59 | S&P 500 | MPBFX vs PEOPX |
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