Western Asset Municipal High Income Fund, Inc (MHF) — Stock Correlations & Overview
Over the past year, MHF has moved most closely with PMM, LEO, NBH. Explore the stocks most correlated and inversely correlated with MHF below, along with its price, financials, and company profile.
Stocks correlated with MHF
Correlation of daily returns. Higher positive values move with MHF; negative values move opposite it. Informational only, not investment advice.
Most correlated with MHF
| Symbol | Company | Correlation |
|---|---|---|
| PMM | Franklin Managed Municipal Income Trust | 0.46 |
| LEO | BNY Mellon Strategic Municipals, Inc. | 0.44 |
| NBH | Neuberger Municipal Fund Inc. | 0.44 |
| MMU | Western Asset Managed Municipals Fund, Inc | 0.43 |
| MUA | Blackrock Muni Assets Fund, Inc. | 0.43 |
Most inversely correlated with MHF
| Symbol | Company | Correlation |
|---|---|---|
| EDUC | Educational Development CorpWHOLESALE-MISCELLANEOUS NONDURABLE GOODS | -0.25 |
| SJB | ProShares Short High Yield | -0.25 |
| TAYD | Taylor Devices IncGENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC | -0.24 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.24 |
| AVS | Direxion Shares ETF Trust Direxion Daily AVGO Bear 1X ETF | -0.23 |
Frequently asked questions about MHF correlations
- Which stocks are most correlated with MHF?
- Based on one year of daily returns, the stocks most correlated with Western Asset Municipal High Income Fund, Inc (MHF) are PMM (0.46), LEO (0.44) and NBH (0.44). 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 MHF?
- Over the past year, the stocks most inversely correlated with Western Asset Municipal High Income Fund, Inc (MHF) are EDUC (-0.25), SJB (-0.25) and TAYD (-0.24). 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 MHF correlations calculated?
- We compute the correlation of daily returns between MHF 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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