Looking to diversify beyond RMUNX? The mutual funds below have the lowest correlation with RMUNX — 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 RMUNX.
Best Diversifiers for RMUNX
21 mutual funds have low correlation with RMUNX (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 0.11, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.15 | 0.11 | 98 | Municipal Bonds | RMUNX vs FHMIX | |
| Invesco Small Cap Value Fund | 0.13 | 0.12 | 0.06 | 86 | Small Cap Value Equities | RMUNX vs VSCAX | |
| DFA Short Term Municipal Bond Portfolio | 0.15 | 0.26 | 0.35 | 99 | Municipal Bonds | RMUNX vs DFSMX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.15 | 0.20 | 0.23 | 89 | High Yield Bonds | RMUNX vs FFRAX | |
| Invesco Nasdaq 100 Index Fund | 0.17 | 0.11 | 0.11 | 72 | Large Cap Growth Equities | RMUNX vs IVNQX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RMUNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RMUNX and solid risk/return profiles. The least correlated is AGNC Investment Corp. (AGNCN) (Real Estate) with a 1Y correlation of 0.03, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AGNC Investment Corp. | 0.03 | 0.05 | 0.09 | 89 | Real Estate | |
| Walmart Inc. | 0.10 | 0.06 | 0.06 | 66 | Consumer Defensive | |
| AGNC Investment Corp. | 0.27 | 0.31 | 0.23 | 77 | Real Estate | |
| STAG Industrial, Inc. | 0.27 | 0.19 | 0.16 | 50 | Real Estate |
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