Which stocks are most correlated with FMUB?

Based on one year of daily returns, the stocks most correlated with Fidelity Municipal Bond Opportunities ETF (FMUB) are RMCA (0.86), RMOP (0.84) and RMNY (0.84). 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 FMUB?

Over the past year, the stocks most inversely correlated with Fidelity Municipal Bond Opportunities ETF (FMUB) are TYO (-0.58), PST (-0.57) and TBX (-0.56). A negative correlation means the two stocks have tended to move in opposite directions.

Fidelity Municipal Bond Opportunities ETF (FMUB) — Stock Correlations & Overview

Over the past year, FMUB has moved most closely with RMCA, RMOP, RMNY. Explore the stocks most correlated and inversely correlated with FMUB below, along with its price, financials, and company profile.

Stocks correlated with FMUB

Correlation of daily returns. Higher positive values move with FMUB; negative values move opposite it. Informational only, not investment advice.

Most correlated with FMUB

Symbol	Company	Correlation
RMCA	Rockefeller California Municipal Bond ETF	0.86
RMOP	Rockefeller Opportunistic Municipal Bond ETF	0.84
RMNY	Rockefeller New York Municipal Bond ETF	0.84
FMUN	Fidelity Systematic Municipal Bond Index ETF	0.82
VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	0.81

Most inversely correlated with FMUB

Symbol	Company	Correlation
TYO	Direxion Daily 7-10 Year Treasury Bear 3X ETF	-0.58
PST	ProShares Trust UltraShort Lehman 7-10 Year Treasury	-0.57
TBX	ProShares Short 7-10 Year Treasury	-0.56
TMV	Direxion Daily 20+ Year Treasury Bear 3X ETF	-0.55
TBT	ProShares Trust UltraShort Lehman 20+ Year Treasury	-0.55

Frequently asked questions about FMUB correlations

Which stocks are most correlated with FMUB?: Based on one year of daily returns, the stocks most correlated with Fidelity Municipal Bond Opportunities ETF (FMUB) are RMCA (0.86), RMOP (0.84) and RMNY (0.84). 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 FMUB?: Over the past year, the stocks most inversely correlated with Fidelity Municipal Bond Opportunities ETF (FMUB) are TYO (-0.58), PST (-0.57) and TBX (-0.56). 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 FMUB correlations calculated?: We compute the correlation of daily returns between FMUB 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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