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
19 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 0.13, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.13 | 0.16 | 0.12 | 99 | Municipal Bonds | RMUNX vs FHMIX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.15 | 0.20 | 0.23 | 90 | High Yield Bonds | RMUNX vs FFRAX | |
| Invesco Small Cap Value Fund | 0.17 | 0.14 | 0.07 | 82 | Small Cap Value Equities | RMUNX vs VSCAX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.18 | 0.21 | 0.19 | 99 | Municipal Bonds | RMUNX vs TFCYX | |
| Invesco Value Opportunities Fund | 0.19 | 0.14 | 0.07 | 81 | Mid Cap Value Equities | RMUNX vs VVOAX |
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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 Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of 0.03, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | 0.03 | 0.04 | 0.06 | 68 | Consumer Defensive | |
| AGNC Investment Corp. | 0.03 | 0.03 | 0.08 | 93 | Real Estate | |
| Realty Income Corporation | 0.12 | 0.24 | 0.19 | 74 | Real Estate | |
| STAG Industrial, Inc. | 0.22 | 0.18 | 0.16 | 72 | Real Estate | |
| AGNC Investment Corp. | 0.33 | 0.33 | 0.26 | 87 | Real Estate |
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