Capital Group Municipal Income ETF (CGMU) — Stock Correlations & Overview
Over the past year, CGMU has moved most closely with CGHM, RJMI, CMF. Explore the stocks most correlated and inversely correlated with CGMU below, along with its price, financials, and company profile.
Stocks correlated with CGMU
Correlation of daily returns. Higher positive values move with CGMU; negative values move opposite it. Informational only, not investment advice.
Most correlated with CGMU
| Symbol | Company | Correlation |
|---|---|---|
| CGHM | Capital Group Municipal High-Income ETF | 0.84 |
| RJMI | RJ Eagle Municipal Income ETF | 0.81 |
| CMF | iShares California Muni Bond ETF | 0.78 |
| EVIM | Eaton Vance Intermediate Municipal Income ETF | 0.78 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.77 |
Most inversely correlated with CGMU
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.49 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.48 |
| TBX | ProShares Short 7-10 Year Treasury | -0.47 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.46 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.46 |
Frequently asked questions about CGMU correlations
- Which stocks are most correlated with CGMU?
- Based on one year of daily returns, the stocks most correlated with Capital Group Municipal Income ETF (CGMU) are CGHM (0.84), RJMI (0.81) and CMF (0.78). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CGMU?
- Over the past year, the stocks most inversely correlated with Capital Group Municipal Income ETF (CGMU) are TYO (-0.49), PST (-0.48) and TBX (-0.47). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CGMU correlations calculated?
- We compute the correlation of daily returns between CGMU and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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