Looking to diversify beyond WMGAX? The mutual funds below have historically moved differently from WMGAX, 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 WMGAX
11 mutual funds have low correlation with WMGAX (below 0.3), 0 of which are negatively correlated. The least correlated is Delaware Tax-Free Idaho Fund (VIDAX) (Municipal Bonds) with a 1Y correlation of 0.21, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Delaware Tax-Free Idaho Fund | 0.21 | 0.16 | 0.15 | 87 | Municipal Bonds | WMGAX vs VIDAX | |
| Delaware Tax-Free Colorado Fund | 0.22 | 0.16 | 0.14 | 84 | Municipal Bonds | WMGAX vs VCTFX | |
| Delaware Tax-Free Oregon Fund | 0.22 | 0.15 | 0.14 | 80 | Municipal Bonds | WMGAX vs FTORX | |
| Delaware Tax-Free New York Fund | 0.23 | 0.15 | 0.13 | 76 | Municipal Bonds | WMGAX vs FTNYX | |
| Delaware Tax-Free Pennsylvania Fund | 0.24 | 0.17 | 0.16 | 80 | Municipal Bonds | WMGAX vs DELIX |
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