Looking to diversify beyond ESPRX? The mutual funds below have historically moved differently from ESPRX, 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 ESPRX
3 mutual funds have low correlation with ESPRX (below 0.3), 0 of which are negatively correlated. The least correlated is Allspring Ultra Short-Term Income Fund (SADIX) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Income Fund | 0.12 | 0.11 | 0.14 | 99 | Ultrashort Bond | ESPRX vs SADIX | |
| Allspring Municipal Bond Fund Institutional Class | 0.20 | 0.14 | 0.09 | 78 | Municipal Bonds | ESPRX vs WMBIX | |
| Allspring Short-Term Bond Plus Fund | 0.27 | 0.16 | 0.14 | 84 | Short-Term Bond | ESPRX vs SSHIX | |
| Aegis Value Fund Class I | 0.35 | 0.44 | 0.54 | 94 | Small Cap Value Equities | ESPRX vs AVALX | |
| Allspring Diversified Capital Builder Fund | 0.55 | 0.61 | 0.71 | 87 | Diversified Portfolio | ESPRX vs EKBAX |
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