Looking to diversify beyond OMIFX? The mutual funds below have the lowest correlation with OMIFX — 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 OMIFX.
Best Diversifiers for OMIFX
16 mutual funds have low correlation with OMIFX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.06 | 0.12 | 0.09 | 99 | Municipal Bonds | OMIFX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.09 | 0.09 | 99 | Municipal Bonds | OMIFX vs TFCYX | |
| JPMorgan Ultra-Short Municipal Fund | 0.12 | 0.29 | 0.38 | 99 | Municipal Bonds | OMIFX vs USMSX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.14 | 0.10 | 0.20 | 99 | Municipal Bonds | OMIFX vs APUSX | |
| abrdn Ultra Short Municipal Income Fund | 0.14 | 0.13 | 0.16 | 99 | Municipal Bonds | OMIFX vs ATOIX |
See all 22 diversifiers for OMIFX
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