Looking to diversify beyond BJBHX? The mutual funds below have historically moved differently from BJBHX, 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 BJBHX
6 mutual funds have low correlation with BJBHX (below 0.3), 2 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.07, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.07 | 0.20 | 0.31 | 73 | High Yield Bonds | BJBHX vs FOCIX | |
| Pioneer ILS Interval Fund | -0.04 | 0.00 | 0.00 | 100 | High Yield Bonds | BJBHX vs XILSX | |
| abrdn Ultra Short Municipal Income Fund | 0.02 | 0.02 | 0.04 | 100 | Municipal Bonds | BJBHX vs ATOIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.09 | 0.08 | 0.12 | 100 | Bank Loan, High Yield Bonds | BJBHX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.14 | 0.22 | 0.28 | 100 | High Yield Bonds | BJBHX vs RPHIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BJBHX, 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 Annaly Capital Management, Inc. (NLY) (Real Estate) with a 1Y correlation of 0.35, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Annaly Capital Management, Inc. | 0.35 | 0.44 | 0.46 | 80 | Real Estate |
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