Looking to diversify beyond WCPNX? The mutual funds below have the lowest correlation with WCPNX — 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 WCPNX.
Best Diversifiers for WCPNX
3 mutual funds have low correlation with WCPNX (below 0.3), 0 of which are negatively correlated. The least correlated is AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) (Systematic Trend) with a 1Y correlation of 0.02, up from -0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.02 | -0.17 | -0.33 | 67 | Systematic Trend | WCPNX vs ASFYX | |
| Fidelity Floating Rate High Income Fund | 0.18 | 0.15 | 0.14 | 93 | High Yield Bonds | WCPNX vs FFRHX | |
| Fidelity 500 Index Fund | 0.29 | 0.20 | 0.16 | 75 | S&P 500 | WCPNX vs FXAIX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.40 | 0.40 | 0.35 | 99 | Total Bond Market | WCPNX vs FCNVX | |
| George Putnam Balanced Fund | 0.41 | 0.35 | 0.32 | 86 | Diversified Portfolio | WCPNX vs PGEOX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WCPNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WCPNX and solid risk/return profiles. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.49, roughly unchanged from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.49 | 0.58 | 0.51 | 75 | Financial Services |
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