NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) — Stock Correlations & Overview
Over the past year, MMD has moved most closely with RTAI, XMPT, MQY. Explore the stocks most correlated and inversely correlated with MMD below, along with its price, financials, and company profile.
Stocks correlated with MMD
Correlation of daily returns. Higher positive values move with MMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with MMD
| Symbol | Company | Correlation |
|---|---|---|
| RTAI | Rareview Tax Advantaged Income ETF | 0.70 |
| XMPT | VanEck CEF Muni Income ETF | 0.66 |
| MQY | Blackrock Muni Yield Quality Fund, Inc | 0.66 |
| MMU | Western Asset Managed Municipals Fund, Inc | 0.65 |
| NEA | Nuveen AMT-Free Quality Municipal Income Fund | 0.63 |
Most inversely correlated with MMD
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.39 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.39 |
| PFIX | Simplify Interest Rate Hedge ETF | -0.38 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.38 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.37 |
Frequently asked questions about MMD correlations
- Which stocks are most correlated with MMD?
- Based on one year of daily returns, the stocks most correlated with NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) are RTAI (0.70), XMPT (0.66) and MQY (0.66). 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 MMD?
- Over the past year, the stocks most inversely correlated with NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) are PST (-0.39), TYO (-0.39) and PFIX (-0.38). 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 MMD correlations calculated?
- We compute the correlation of daily returns between MMD 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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