Looking to diversify beyond RMI? The mutual funds below have historically moved differently from RMI, 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 RMI
13 mutual funds have low correlation with RMI (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.04 | 0.10 | 0.12 | 100 | Municipal Bonds | RMI vs DFSMX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.05 | 0.32 | 0.25 | 68 | Municipal Bonds | RMI vs NMT | |
| JPMorgan Ultra-Short Municipal Fund | 0.05 | 0.17 | 0.17 | 98 | Municipal Bonds | RMI vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.07 | 0.20 | 0.15 | 99 | Municipal Bonds | RMI vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.09 | 0.20 | 0.18 | 98 | Municipal Bonds | RMI vs USMTX |
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