Looking to diversify beyond WFDDX? The mutual funds below have the lowest correlation with WFDDX — 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 WFDDX.
Best Diversifiers for WFDDX
2 mutual funds have low correlation with WFDDX (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 0.24, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Income Fund | 0.24 | 0.14 | 0.16 | 98 | Ultrashort Bond | WFDDX vs SADIX | |
| Allspring Short-Term Bond Plus Fund | 0.28 | 0.18 | 0.18 | 82 | Short-Term Bond | WFDDX vs SSHIX | |
| Essex Environmental Opportunities Fund | 0.73 | 0.77 | 0.81 | 75 | Mid Cap Growth Equities | WFDDX vs EEOFX | |
| Needham Growth Fund | 0.78 | 0.80 | 0.83 | 92 | Mid Cap Growth Equities | WFDDX vs NEEGX | |
| Allspring Diversified Capital Builder Fund | 0.80 | 0.83 | 0.82 | 96 | Diversified Portfolio | WFDDX vs EKBAX |
See all 15 diversifiers for WFDDX
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