RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM) — Stock Correlations & Overview
Over the past year, RMM has moved most closely with RFM, RFMZ, XMPT. Explore the stocks most correlated and inversely correlated with RMM below, along with its price, financials, and company profile.
Stocks correlated with RMM
Correlation of daily returns. Higher positive values move with RMM; negative values move opposite it. Informational only, not investment advice.
Most correlated with RMM
| Symbol | Company | Correlation |
|---|---|---|
| RFM | RiverNorth Flexible Municipal Income Fund, Inc. | 0.62 |
| RFMZ | RiverNorth Flexible Municipal Income Fund II, Inc. | 0.56 |
| XMPT | VanEck CEF Muni Income ETF | 0.53 |
| RTAI | Rareview Tax Advantaged Income ETF | 0.53 |
| MYI | BLACKROCK MUNIYIELD QUALITY FUND III, INC. | 0.52 |
Most inversely correlated with RMM
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.35 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.34 |
| JETD | MAX Airlines -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.32 |
| TBX | ProShares Short 7-10 Year Treasury | -0.31 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.31 |
Frequently asked questions about RMM correlations
- Which stocks are most correlated with RMM?
- Based on one year of daily returns, the stocks most correlated with RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM) are RFM (0.62), RFMZ (0.56) and XMPT (0.53). 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 RMM?
- Over the past year, the stocks most inversely correlated with RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM) are TYO (-0.35), PST (-0.34) and JETD (-0.32). 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 RMM correlations calculated?
- We compute the correlation of daily returns between RMM 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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