Looking to diversify beyond WFIOX? The mutual funds below have historically moved differently from WFIOX, 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 WFIOX
2 mutual funds have low correlation with WFIOX (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 0.15, roughly unchanged from 0.13 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 | 0.15 | 0.08 | 0.13 | 99 | Ultrashort Bond | WFIOX vs SADIX | |
| Allspring Short-Term Bond Plus Fund | 0.29 | 0.17 | 0.15 | 84 | Short-Term Bond | WFIOX vs SSHIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.33 | 0.16 | 0.13 | 97 | Large Cap Blend Equities | WFIOX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.53 | 0.35 | 0.41 | 59 | Preferred Stock | WFIOX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.57 | 0.70 | 0.80 | 89 | Large Cap Blend Equities | WFIOX vs RCKSX |
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