Looking to diversify beyond RIV? The mutual funds below have historically moved differently from RIV, 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 RIV
8 mutual funds have low correlation with RIV (below 0.3), 1 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) (Tactical Allocation) with a 1Y correlation of -0.01, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund Institutiona... | -0.01 | 0.12 | 0.12 | 85 | Tactical Allocation | RIV vs PBAIX | |
| RiverNorth Managed Duration Municipal Income Fund ... | 0.16 | 0.26 | — | 58 | Municipal Bonds | RIV vs RMMZ | |
| Quantified Evolution Plus Fund | 0.19 | 0.21 | 0.15 | 84 | Tactical Allocation | RIV vs QEVOX | |
| RiverNorth Capital and Income Fund | 0.23 | 0.27 | 0.23 | 65 | High Yield Bonds | RIV vs RSF | |
| RiverNorth Flexible Municipal Income Fund II Inc. | 0.25 | 0.31 | 0.26 | 60 | Municipal Bonds | RIV vs RFMZ |
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