Federated Hermes Premier Municipal Income Fund (FMN) — Stock Correlations & Overview
Over the past year, FMN has moved most closely with RTAI, XMPT, DMB. Explore the stocks most correlated and inversely correlated with FMN below, along with its price, financials, and company profile.
Stocks correlated with FMN
Correlation of daily returns. Higher positive values move with FMN; negative values move opposite it. Informational only, not investment advice.
Most correlated with FMN
| Symbol | Company | Correlation |
|---|---|---|
| RTAI | Rareview Tax Advantaged Income ETF | 0.77 |
| XMPT | VanEck CEF Muni Income ETF | 0.76 |
| DMB | BNY Mellon Municipal Bond Infrastructure Fund, Inc. | 0.68 |
| MMU | Western Asset Managed Municipals Fund, Inc | 0.67 |
| MQY | Blackrock Muni Yield Quality Fund, Inc | 0.67 |
Most inversely correlated with FMN
| Symbol | Company | Correlation |
|---|---|---|
| EFZ | ProShares Trust Short MSCI EAFE | -0.42 |
| EPV | ProShares UltraShort FTSE Europe | -0.41 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.41 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.38 |
| BNO | United States Brent Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | -0.38 |
Frequently asked questions about FMN correlations
- Which stocks are most correlated with FMN?
- Based on one year of daily returns, the stocks most correlated with Federated Hermes Premier Municipal Income Fund (FMN) are RTAI (0.77), XMPT (0.76) and DMB (0.68). 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 FMN?
- Over the past year, the stocks most inversely correlated with Federated Hermes Premier Municipal Income Fund (FMN) are EFZ (-0.42), EPV (-0.41) and EFU (-0.41). 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 FMN correlations calculated?
- We compute the correlation of daily returns between FMN 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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