Looking to diversify beyond EVUAX? The mutual funds below have historically moved differently from EVUAX, 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 EVUAX
4 mutual funds have low correlation with EVUAX (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 0.07, 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 | 0.07 | 0.14 | 0.14 | 99 | Ultrashort Bond | EVUAX vs SADIX | |
| Allspring Short-Term Bond Plus Fund | 0.19 | 0.22 | 0.21 | 77 | Short-Term Bond | EVUAX vs SSHIX | |
| Allspring Disciplined U.S. Core Fund | 0.25 | 0.32 | 0.43 | 63 | Large Cap Blend Equities | EVUAX vs EVSAX | |
| Allspring Diversified Income Builder Fund | 0.29 | 0.34 | 0.40 | 52 | Diversified Portfolio | EVUAX vs EKSAX | |
| Allspring Diversified Capital Builder Fund | 0.31 | 0.30 | 0.41 | 88 | Diversified Portfolio | EVUAX vs EKBAX |
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