Looking to diversify beyond JMUNX? The mutual funds below have historically moved differently from JMUNX, 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 JMUNX
10 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 0.07, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.07 | 0.12 | 0.11 | 99 | Municipal Bonds | JMUNX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.08 | 0.12 | 0.09 | 99 | Municipal Bonds | JMUNX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.13 | 0.13 | 0.15 | 100 | Municipal Bonds | JMUNX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.20 | 0.27 | 0.36 | 100 | Municipal Bonds | JMUNX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.21 | 0.32 | 0.38 | 98 | Municipal Bonds | JMUNX vs USMSX |
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