Looking to diversify beyond IMNYX? The mutual funds below have historically moved differently from IMNYX, 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 IMNYX
12 mutual funds have low correlation with IMNYX (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMSX) (Municipal Bonds) with a 1Y correlation of 0.18, down from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.18 | 0.32 | 0.38 | 98 | Municipal Bonds | IMNYX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.22 | 0.32 | 0.41 | 99 | Municipal Bonds | IMNYX vs DNYMX | |
| abrdn Ultra Short Municipal Income Fund | 0.23 | 0.26 | 0.27 | 100 | Municipal Bonds | IMNYX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.23 | 0.27 | 0.33 | 100 | Municipal Bonds | IMNYX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.33 | 0.41 | 98 | Municipal Bonds | IMNYX vs USMTX |
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