RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ) Correlation Distribution
Across 6,806 rolling correlation observations between RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ) and other NASDAQ-listed stocks, 73% are positive and 27% are negative. The most common correlation range is 0.9 to 1.0, and the average pairwise correlation is 0.373, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 41.4% and strong negative correlations (≤−0.7) for 1.9%.
- Total observations
- 6,806
- Mean correlation
- 0.373
- Most common range
- 0.9 to 1.0
- Positive pairs
- 73%
- Strong positive (≥0.7)
- 41.4%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 5 | 0.1% | |
| -0.9 to -0.8 | 64 | 0.9% | |
| -0.8 to -0.7 | 63 | 0.9% | |
| -0.7 to -0.6 | 221 | 3.2% | |
| -0.6 to -0.5 | 220 | 3.2% | |
| -0.5 to -0.4 | 271 | 4.0% | |
| -0.4 to -0.3 | 270 | 4.0% | |
| -0.3 to -0.2 | 220 | 3.2% | |
| -0.2 to -0.1 | 219 | 3.2% | |
| -0.1 to 0.0 | 284 | 4.2% | |
| 0.0 to 0.1 | 283 | 4.2% | |
| 0.1 to 0.2 | 251 | 3.7% | |
| 0.2 to 0.3 | 250 | 3.7% | |
| 0.3 to 0.4 | 282 | 4.1% | |
| 0.4 to 0.5 | 282 | 4.1% | |
| 0.5 to 0.6 | 403 | 5.9% | |
| 0.6 to 0.7 | 403 | 5.9% | |
| 0.7 to 0.8 | 901 | 13.2% | |
| 0.8 to 0.9 | 900 | 13.2% | |
| 0.9 to 1.0 | 1,014 | 14.9% |
Frequently asked questions
What is the average correlation of RFMZ?
RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ) has an average correlation of about 0.373 with other NASDAQ stocks, based on 6,806 pairwise observations.
Is RFMZ positively correlated with other stocks?
Mostly yes — 73% of pairs are positive and 27% are negative. Strong positive correlations (≥0.7) make up 41.4%.
What is the most common correlation range for RFMZ?
The most common range is 0.9 to 1.0. Weak correlations (−0.3 to 0.3) account for 22.1% of all pairs.
Explore the full interactive correlation distribution for RFMZ.
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