RFMZ RiverNorth Flexible Municipal Income Fund II, Inc.

Last close: 12.18
504-day return: +1.75%
Median $/day: $799k
Relationships shown: 13

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

Same exposure: RFM move almost identically to RFMZ (|ρ| ≥ 0.93). Same-day relationships for the group are listed here.

RFMZ vs PMO, shifted 1d

Both indexed to 100 at 2026-05-11. PMO is drawn 1 trading day later than it happened, so if it leads, the lines move together.

RFMZ PMO (+1d) · range 88–104 · 2026-05-11 → 2026-11-06

Leads RFMZ

RFMZ tends to repeat these symbols' moves some days later. The highlighted bar is the lag.

PMO Franklin Municipal Opportunities Trust

lag 1dρ +0.21holdout +0.23stable 88%$/day $700krobust

Moves with RFMZ

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

RMM RiverNorth Managed Duration Municipal Income Fund, Inc.

ρ +0.60beyond mkt +0.49holdout +0.55stable 100%robust

RMI RiverNorth Opportunistic Municipal Income Fund, Inc. Common Stock

ρ +0.53beyond mkt +0.40holdout +0.52stable 100%robust

MYI BLACKROCK MUNIYIELD QUALITY FUND III, INC.

ρ +0.57beyond mkt +0.40holdout +0.63stable 100%robust

DMB BNY Mellon Municipal Bond Infrastructure Fund, Inc.

ρ +0.55beyond mkt +0.40holdout +0.65stable 100%robust

LEO BNY Mellon Strategic Municipals, Inc.

ρ +0.55beyond mkt +0.39holdout +0.63stable 100%robust

MUJ BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

ρ +0.55beyond mkt +0.38holdout +0.59stable 100%robust

Weekly, not daily

No day-to-day relationship, but 5- or 10-day returns move together.

FT Franklin Universal Trust Shares of Beneficial Interest

horizon 10dρ +0.51holdout +0.68stable 62%moderate

OPP RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

horizon 10dρ +0.51holdout +0.71stable 75%robust

HTD John Hancock Tax-Advantaged Dividend Income Fund

horizon 10dρ +0.48holdout +0.62stable 62%moderate

HIX Western Asset High Income Fund II, Inc.

horizon 10dρ +0.47holdout +0.58stable 50%moderate

HYSA BondBloxx High Yield Income ETF

horizon 10dρ +0.46holdout +0.64stable 62%moderate

PHG KONINKLIJKE PHILIPS N.V.

horizon 10dρ +0.42holdout +0.63stable 25%moderate

Changed this quarter

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.59recent -0.18prior +0.41beyond mkt +0.21

BOF BranchOut Food Inc. Common Stock

Δ -0.50recent -0.32prior +0.18beyond mkt -0.01

MEOH Methanex Corporation Common Stock

Δ -0.46recent -0.35prior +0.11beyond mkt +0.04

ZTR Virtus Total Return Fund Inc.

Δ +0.43recent +0.59prior +0.16beyond mkt +0.03

FT Franklin Universal Trust Shares of Beneficial Interest

Δ +0.43recent +0.64prior +0.21beyond mkt +0.07

AZ A2Z Cust2Mate Solutions Corp. Common Shares

Δ +0.42recent +0.42prior +0.00beyond mkt -0.07

Hidden links

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
RMM RiverNorth Managed Duration Municipal Income Fund, Inc.	+0.49	+0.60	20
MYI BLACKROCK MUNIYIELD QUALITY FUND III, INC.	+0.40	+0.57	18
LEO BNY Mellon Strategic Municipals, Inc.	+0.39	+0.55	18
IIM INVESCO VALUE MUNICIPAL INCOME TRUST	+0.38	+0.55	18
IQI INVESCO QUALITY MUNICIPAL SECURITIES	+0.35	+0.53	17
MPA BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND	+0.37	+0.54	18