Looking to diversify beyond RFM? The mutual funds below have historically moved differently from RFM, 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 RFM
8 mutual funds have low correlation with RFM (below 0.3), 0 of which are negatively correlated. The least correlated is RiverNorth Capital and Income Fund (RSF) (High Yield Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RiverNorth Capital and Income Fund | 0.16 | 0.20 | 0.17 | 65 | High Yield Bonds | RFM vs RSF | |
| Federated Hermes Municipal High Yield Advtg Fd | 0.21 | 0.29 | 0.30 | 95 | High Yield Muni | RFM vs FHTFX | |
| T. Rowe Price Tax Free High Yield Fund | 0.27 | 0.35 | 0.33 | 96 | High Yield Muni | RFM vs PRFHX | |
| abrdn Short Duration High Yield Municipal Fund | 0.29 | 0.32 | 0.30 | 82 | High Yield Muni | RFM vs AHYMX | |
| Lord Abbett Short Duration High Income Municipal B... | 0.29 | 0.34 | 0.31 | 88 | High Yield Muni | RFM vs SDHIX |
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