Looking to diversify beyond RMMZ? The mutual funds below have the lowest correlation with RMMZ — 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 RMMZ.
Best Diversifiers for RMMZ
14 mutual funds have low correlation with RMMZ (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMTX) (Municipal Bonds) with a 1Y correlation of 0.02, down from 0.14 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.02 | 0.14 | — | 99 | Municipal Bonds | RMMZ vs USMTX | |
| Federated Hermes Conservative Municipal Microshort... | 0.03 | 0.04 | — | 99 | Municipal Bonds | RMMZ vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.04 | 0.16 | — | 99 | Municipal Bonds | RMMZ vs USMSX | |
| RiverNorth Capital and Income Fund | 0.08 | 0.16 | — | 56 | High Yield Bonds | RMMZ vs RSF | |
| DFA NY Municipal Bond Portfolio | 0.08 | 0.15 | — | 99 | Municipal Bonds | RMMZ vs DNYMX |
See all 16 diversifiers for RMMZ
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