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
13 mutual funds have low correlation with RMMZ (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 0.02, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.02 | 0.04 | — | 99 | Municipal Bonds | RMMZ vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.02 | 0.13 | — | 99 | Municipal Bonds | RMMZ vs USMTX | |
| JPMorgan Ultra-Short Municipal Fund | 0.04 | 0.15 | — | 99 | Municipal Bonds | RMMZ vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.08 | 0.15 | — | 99 | Municipal Bonds | RMMZ vs DNYMX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.08 | 0.02 | — | 99 | Municipal Bonds | RMMZ vs APUSX |
See all 13 diversifiers for RMMZ
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