Looking to diversify beyond FNJZX? The mutual funds below have historically moved differently from FNJZX, 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 FNJZX
12 mutual funds have low correlation with FNJZX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Income Fund Advisor Class (FRIAX) (Diversified Portfolio) with a 1Y correlation of 0.23, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.23 | 0.31 | 0.25 | 93 | Diversified Portfolio | FNJZX vs FRIAX | |
| DFA Short Term Municipal Bond Portfolio | 0.24 | 0.28 | 0.36 | 100 | Municipal Bonds | FNJZX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 0.25 | 0.29 | 0.27 | 100 | Municipal Bonds | FNJZX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.25 | 0.18 | 0.14 | 99 | Municipal Bonds | FNJZX vs FHMIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.25 | 0.29 | 0.40 | 100 | Municipal Bonds | FNJZX vs DFABX |
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