Jews light Yahrzeit candles or "memorial candles" for loved ones who have passed away. The candles traditionally burn for about 24 hours and are lit on Yom Kippur, or on the anniversary of the loved one's death.
There's some similarities there with Dia De Los Muertos.
I've adopted that tradition and I keep a number of memorial candles on hand and whenever I think of someone that's no longer around, I light one as a way to stay connected to that person. I don't let them burn out the way it's traditionally done, I just burn them as long as I feel like it.
IMO, it's a beautiful and powerful custom.