Looking to diversify beyond JMUNX? The mutual funds below have the lowest correlation with JMUNX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from JMUNX.
Best Diversifiers for JMUNX
12 mutual funds have low correlation with JMUNX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.10 | 0.11 | 0.11 | 99 | Municipal Bonds | JMUNX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.12 | 0.10 | 99 | Municipal Bonds | JMUNX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.16 | 0.13 | 0.15 | 99 | Municipal Bonds | JMUNX vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.16 | 0.27 | — | 100 | Municipal Bonds | JMUNX vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.27 | 0.36 | 99 | Municipal Bonds | JMUNX vs DFSMX |
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