RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) Correlation Distribution
Across 6,756 rolling correlation observations between RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) and other NASDAQ-listed stocks, 70.6% are positive and 29.4% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.276, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 17.4% and strong negative correlations (≤−0.7) for 0.1%.
- Total observations
- 6,756
- Mean correlation
- 0.276
- Most common range
- 0.5 to 0.6
- Positive pairs
- 70.6%
- Strong positive (≥0.7)
- 17.4%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 2 | 0.0% | |
| -0.8 to -0.7 | 2 | 0.0% | |
| -0.7 to -0.6 | 49 | 0.7% | |
| -0.6 to -0.5 | 48 | 0.7% | |
| -0.5 to -0.4 | 261 | 3.9% | |
| -0.4 to -0.3 | 260 | 3.8% | |
| -0.3 to -0.2 | 475 | 7.0% | |
| -0.2 to -0.1 | 474 | 7.0% | |
| -0.1 to 0.0 | 413 | 6.1% | |
| 0.0 to 0.1 | 412 | 6.1% | |
| 0.1 to 0.2 | 407 | 6.0% | |
| 0.2 to 0.3 | 406 | 6.0% | |
| 0.3 to 0.4 | 501 | 7.4% | |
| 0.4 to 0.5 | 501 | 7.4% | |
| 0.5 to 0.6 | 684 | 10.1% | |
| 0.6 to 0.7 | 684 | 10.1% | |
| 0.7 to 0.8 | 582 | 8.6% | |
| 0.8 to 0.9 | 581 | 8.6% | |
| 0.9 to 1.0 | 14 | 0.2% |
Frequently asked questions
What is the average correlation of RMMZ?
RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) has an average correlation of about 0.276 with other NASDAQ stocks, based on 6,756 pairwise observations.
Is RMMZ positively correlated with other stocks?
Mostly yes — 70.6% of pairs are positive and 29.4% are negative. Strong positive correlations (≥0.7) make up 17.4%.
What is the most common correlation range for RMMZ?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 38.3% of all pairs.
Explore the full interactive correlation distribution for RMMZ.
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