Looking to diversify beyond WFPAX? The mutual funds below have the lowest correlation with WFPAX — 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 WFPAX.
Best Diversifiers for WFPAX
2 mutual funds have low correlation with WFPAX (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 0.17, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Income Fund | 0.17 | 0.13 | 0.14 | 98 | Ultrashort Bond | WFPAX vs SADIX | |
| Allspring Short-Term Bond Plus Fund | 0.24 | 0.17 | 0.15 | 83 | Short-Term Bond | WFPAX vs SSHIX | |
| Allspring Disciplined U.S. Core Fund | 0.62 | 0.68 | 0.78 | 75 | Large Cap Blend Equities | WFPAX vs EVSAX | |
| Allspring Diversified Capital Builder Fund | 0.64 | 0.67 | 0.76 | 96 | Diversified Portfolio | WFPAX vs EKBAX | |
| Fidelity 500 Index Fund | 0.65 | 0.70 | 0.78 | 75 | S&P 500 | WFPAX vs FXAIX |
See all 25 diversifiers for WFPAX
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