Looking to diversify beyond RMUNX? The mutual funds below have historically moved differently from RMUNX, 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 RMUNX
19 mutual funds have low correlation with RMUNX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of 0.02, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | 0.02 | 0.16 | 0.20 | 88 | Municipal Bonds | RMUNX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.05 | 0.20 | 0.22 | 91 | Municipal Bonds | RMUNX vs DMREX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.15 | 0.19 | 0.23 | 92 | High Yield Bonds | RMUNX vs FFRAX | |
| Invesco Small Cap Value Fund | 0.16 | 0.12 | 0.07 | 83 | Small Cap Value Equities | RMUNX vs VSCAX | |
| Federated Hermes Conservative Municipal Microshort... | 0.16 | 0.16 | 0.12 | 99 | Municipal Bonds | RMUNX vs FHMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RMUNX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AGNC Investment Corp. (AGNCN) (Real Estate) with a 1Y correlation of 0.04, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AGNC Investment Corp. | 0.04 | 0.03 | 0.08 | 92 | Real Estate | |
| Walmart Inc. | 0.05 | 0.06 | 0.06 | 58 | Consumer Defensive | |
| Realty Income Corporation | 0.10 | 0.24 | 0.19 | 69 | Real Estate | |
| STAG Industrial, Inc. | 0.24 | 0.18 | 0.16 | 63 | Real Estate | |
| AGNC Investment Corp. | 0.36 | 0.34 | 0.27 | 75 | Real Estate |
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