Looking to diversify beyond EKJAX? The mutual funds below have historically moved differently from EKJAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for EKJAX
11 mutual funds have low correlation with EKJAX (below 0.3), 0 of which are negatively correlated. The least correlated is Allspring Ultra Short-Term Municipal Income Fund (SMAIX) (Municipal Bonds) with a 1Y correlation of 0.13, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Municipal Income Fund | 0.13 | 0.04 | 0.08 | 97 | Municipal Bonds | EKJAX vs SMAIX | |
| Allspring Ultra Short-Term Income Fund | 0.14 | 0.05 | 0.11 | 98 | Ultrashort Bond | EKJAX vs SADIX | |
| Allspring Pennsylvania Tax-Free Fund | 0.16 | 0.09 | 0.09 | 75 | Municipal Bonds | EKJAX vs EKVAX | |
| Allspring High Yield Municipal Bond Fund | 0.17 | 0.10 | 0.11 | 86 | High Yield Muni | EKJAX vs WHYIX | |
| Allspring Alternative Risk Premia Fund | 0.19 | 0.09 | -0.05 | 96 | Multistrategy | EKJAX vs WRPIX |
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