Looking to diversify beyond TMNIX? The mutual funds below have the lowest correlation with TMNIX — 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 TMNIX.
Best Diversifiers for TMNIX
0 mutual funds have low correlation with TMNIX (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 0.54, roughly unchanged from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Short Duration High Yield Municipal Fund | 0.54 | 0.55 | 0.53 | 57 | High Yield Muni | TMNIX vs AHYMX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.58 | 0.59 | 0.50 | 65 | High Yield Muni | TMNIX vs NVHIX | |
| Russell Investments Tax-Exempt High Yield Bond Fun... | 0.61 | 0.65 | 0.62 | 68 | High Yield Muni | TMNIX vs RTHAX | |
| Lord Abbett Short Duration High Income Municipal B... | 0.63 | 0.61 | 0.56 | 79 | High Yield Muni | TMNIX vs SDHIX | |
| Invesco Short Duration High Yield Municipal Fund | 0.66 | 0.64 | 0.59 | 90 | High Yield Muni | TMNIX vs ISHYX |
See all 44 diversifiers for TMNIX
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