RJ Eagle Municipal Income ETF (RJMI) — Stock Correlations & Overview
Over the past year, RJMI has moved most closely with MFSM, EVIM, CGHM. Explore the stocks most correlated and inversely correlated with RJMI below, along with its price, financials, and company profile.
Stocks correlated with RJMI
Correlation of daily returns. Higher positive values move with RJMI; negative values move opposite it. Informational only, not investment advice.
Most correlated with RJMI
| Symbol | Company | Correlation |
|---|---|---|
| MFSM | MFS Active Intermediate Muni Bond ETF | 0.84 |
| EVIM | Eaton Vance Intermediate Municipal Income ETF | 0.83 |
| CGHM | Capital Group Municipal High-Income ETF | 0.82 |
| MUB | iShares National Muni Bond ETF | 0.82 |
| CMF | iShares California Muni Bond ETF | 0.81 |
Most inversely correlated with RJMI
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.63 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.62 |
| TBX | ProShares Short 7-10 Year Treasury | -0.61 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.61 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.61 |
Frequently asked questions about RJMI correlations
- Which stocks are most correlated with RJMI?
- Based on one year of daily returns, the stocks most correlated with RJ Eagle Municipal Income ETF (RJMI) are MFSM (0.84), EVIM (0.83) and CGHM (0.82). 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 RJMI?
- Over the past year, the stocks most inversely correlated with RJ Eagle Municipal Income ETF (RJMI) are TYO (-0.63), PST (-0.62) and TBX (-0.61). 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 RJMI correlations calculated?
- We compute the correlation of daily returns between RJMI 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.