Looking to diversify beyond STMYX? The mutual funds below have the lowest correlation with STMYX — 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 STMYX.
Best Diversifiers for STMYX
0 mutual funds have low correlation with STMYX (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Short Duration High Yield Municipal Fund (AHYMX) (High Yield Muni) with a 1Y correlation of 0.67, roughly unchanged from 0.61 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Short Duration High Yield Municipal Fund | 0.67 | 0.65 | 0.61 | 54 | High Yield Muni | STMYX vs AHYMX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.67 | 0.63 | 0.57 | 65 | High Yield Muni | STMYX vs NVHIX | |
| Russell Investments Tax-Exempt High Yield Bond Fun... | 0.73 | 0.76 | 0.71 | 68 | High Yield Muni | STMYX vs RTHAX | |
| Lord Abbett Short Duration High Income Municipal B... | 0.75 | 0.72 | 0.66 | 79 | High Yield Muni | STMYX vs SDHIX | |
| Federated Hermes Municipal High Yield Advtg Fd | 0.75 | 0.75 | 0.71 | 91 | High Yield Muni | STMYX vs FHTFX |
See all 33 diversifiers for STMYX
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