Looking to diversify beyond WRAIX? The mutual funds below have historically moved differently from WRAIX, 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 WRAIX
6 mutual funds have low correlation with WRAIX (below 0.3), 3 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of -0.05, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | -0.05 | -0.01 | -0.02 | 97 | Long-Short | WRAIX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | -0.04 | -0.01 | -0.02 | 97 | Long-Short | WRAIX vs VMNFX | |
| Federated Hermes MDT Market Neutral A | -0.01 | 0.02 | — | 54 | Long-Short | WRAIX vs QAMNX | |
| Knights of Columbus Long/Short Equity Fund | 0.15 | 0.32 | 0.29 | 96 | Long-Short | WRAIX vs KCEIX | |
| Wilmington Municipal Bond Fund | 0.25 | 0.16 | 0.13 | 56 | Municipal Bonds | WRAIX vs WTAIX |
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