Looking to diversify beyond RMMZ? The mutual funds below have historically moved differently from RMMZ, 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 RMMZ
16 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 (USMSX) (Municipal Bonds) with a 1Y correlation of 0.03, down from 0.16 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.03 | 0.16 | — | 98 | Municipal Bonds | RMMZ vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.06 | 0.15 | — | 98 | Municipal Bonds | RMMZ vs USMTX | |
| Federated Hermes Conservative Municipal Microshort... | 0.08 | 0.04 | — | 99 | Municipal Bonds | RMMZ vs FHMIX | |
| RiverNorth Capital and Income Fund | 0.08 | 0.16 | — | 65 | High Yield Bonds | RMMZ vs RSF | |
| DFA NY Municipal Bond Portfolio | 0.09 | 0.16 | — | 99 | Municipal Bonds | RMMZ vs DNYMX |
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