Looking to diversify beyond WCPNX? The mutual funds below have historically moved differently from WCPNX, 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 WCPNX
2 mutual funds have low correlation with WCPNX (below 0.3), 1 of which are negatively correlated. The least correlated is Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX) (Systematic Trend) with a 1Y correlation of -0.07, up from -0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | -0.07 | -0.16 | -0.32 | 66 | Systematic Trend | WCPNX vs ASFYX | |
| Fidelity Floating Rate High Income Fund | 0.12 | 0.13 | 0.14 | 95 | Bank Loan | WCPNX vs FFRHX | |
| Fidelity 500 Index Fund | 0.36 | 0.21 | 0.17 | 64 | S&P 500 | WCPNX vs FXAIX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.36 | 0.40 | 0.36 | 100 | Ultrashort Bond | WCPNX vs FCNVX | |
| Fidelity International Index Fund | 0.45 | 0.31 | 0.26 | 70 | Foreign Large Cap Equities | WCPNX vs FSPSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for WCPNX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.53, roughly unchanged from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.53 | 0.58 | 0.52 | 79 | Financial Services |
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