Looking to diversify beyond WRAIX? The mutual funds below have the lowest correlation with WRAIX — 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 WRAIX.
Best Diversifiers for WRAIX
5 mutual funds have low correlation with WRAIX (below 0.3), 2 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of -0.04, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | -0.04 | -0.02 | -0.02 | 64 | Long-Short | WRAIX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | -0.03 | -0.01 | -0.01 | 63 | Long-Short | WRAIX vs VMNFX | |
| Wilmington Municipal Bond Fund | 0.21 | 0.15 | 0.12 | 63 | Municipal Bonds | WRAIX vs WTAIX | |
| Knights of Columbus Long/Short Equity Fund | 0.27 | 0.38 | 0.31 | 63 | Long-Short | WRAIX vs KCEIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.28 | 0.19 | 0.15 | 91 | Long-Short | WRAIX vs BDMIX |
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