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Allspring Discovery Mid Cap Growth Fund (SENAX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The fund invests at least 80% of its net assets in equity securities of medium-capitalization companies; and up to 25% of the fund's total assets in equity securities of foreign issuers through ADRs and similar investments. The managers seek to identify companies that have the prospect for strong sales and earnings growth rates, that enjoy a competitive advantage and that the managers believe have effective management with a history of making investments that are in the best interests of shareholders.

Looking to diversify beyond SENAX? The mutual funds below have the lowest correlation with SENAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from SENAX.

Best Diversifiers for SENAX

11 mutual funds have low correlation with SENAX (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 0.10, roughly unchanged from 0.09 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
SMAIX
Allspring Ultra Short-Term Municipal Income Fund0.100.050.09
98
Municipal BondsSENAX vs SMAIX
EKVAX
Allspring Pennsylvania Tax-Free Fund0.180.120.12
78
Municipal BondsSENAX vs EKVAX
SADIX
Allspring Ultra Short-Term Income Fund0.180.110.14
98
Ultrashort BondSENAX vs SADIX
WHYIX
Allspring High Yield Municipal Bond Fund0.200.140.14
79
High Yield MuniSENAX vs WHYIX
WFTAX
Allspring Intermediate Tax/AMT-Free Fund0.200.140.14
69
Municipal BondsSENAX vs WFTAX
See all 42 diversifiers for SENAX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from SENAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SENAX and solid risk/return profiles. The least correlated is Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of 0.38, down from 0.56 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
GOOGL
Alphabet Inc. Class A0.380.430.56
96
Communication Services
DELL
Dell Technologies Inc.0.420.480.49
96
Technology

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