Looking to diversify beyond WIREX? The mutual funds below have historically moved differently from WIREX, 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 WIREX
0 mutual funds have low correlation with WIREX (below 0.3), 0 of which are negatively correlated. The least correlated is ARK Venture Fund (ARKVX) (Technology Equities) with a 1Y correlation of 0.43, roughly unchanged from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ARK Venture Fund | 0.43 | 0.48 | 0.52 | 98 | Technology Equities | WIREX vs ARKVX | |
| Gabelli Global Content & Connectivity Fund Class I | 0.51 | 0.54 | 0.65 | 55 | Technology Equities | WIREX vs GTTIX | |
| ICON Health and Information Technology Fund | 0.81 | 0.74 | 0.78 | 86 | Technology Equities | WIREX vs ICTEX | |
| Columbia Seligman Premium Technology Growth Fund | 0.81 | 0.77 | 0.81 | 89 | Technology Equities, Options Trading, Actively Managed | WIREX vs STK | |
| Fidelity Select Tech Hardware Portfolio | 0.83 | 0.80 | 0.84 | 94 | Technology Equities | WIREX vs FDCPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for WIREX, 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 Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.05, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.05 | 0.18 | 0.22 | 79 | Healthcare |
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