Looking to diversify beyond MPSSX? The mutual funds below have historically moved differently from MPSSX, 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 MPSSX
0 mutual funds have low correlation with MPSSX (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 0.48, down from 0.62 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 | 0.48 | 0.60 | 0.62 | 85 | Energy Equities | MPSSX vs DNLAX | |
| BNY Mellon Global Real Return Fund - Class I | 0.63 | 0.65 | 0.58 | 82 | Tactical Allocation | MPSSX vs DRRIX | |
| BNY Mellon S&P 500 Index Fund | 0.75 | 0.77 | 0.81 | 59 | S&P 500 | MPSSX vs PEOPX | |
| BNY Mellon Institutional S&P 500 Stock Index Fund | 0.75 | 0.77 | 0.81 | 62 | S&P 500 | MPSSX vs DSPIX | |
| Driehaus Micro Cap Growth Fund | 0.78 | 0.84 | 0.87 | 82 | Small Cap Growth Equities | MPSSX vs DMCRX |
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