By Yahoo!

1. Make Fewer HTTP Requests
2. Use a Content Delivery Network
3. Add an Expires Header
4. Gzip Components
5. Put CSS at the Top
6. Move Scripts to the Bottom
7. Avoid CSS Expressions
8. Make JavaScript and CSS External
9. Reduce DNS Lookups
10. Minify JavaScript
11. Avoid Redirects
12. Remove Duplicate Scripts
13. Configure ETags

WordPress has the option for G-zip from Option section. There’s also a plugin called, WP-Cache. These two would make your wordpress x% faster.