Looking to diversify beyond JANEX? The mutual funds below have historically moved differently from JANEX, 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 JANEX
1 mutual funds have low correlation with JANEX (below 0.3), 0 of which are negatively correlated. The least correlated is Janus Henderson Short Duration Flexible Bond Fund (JNSTX) (Short-Term Bond) with a 1Y correlation of 0.16, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson Short Duration Flexible Bond Fund | 0.16 | 0.12 | 0.13 | 75 | Short-Term Bond | JANEX vs JNSTX | |
| Janus Henderson Absolute Return Income Opportuniti... | 0.34 | 0.25 | 0.27 | 89 | Nontraditional Bonds | JANEX vs JUCIX | |
| Janus Henderson Global Life Sciences Fund | 0.45 | 0.61 | 0.68 | 92 | Health & Biotech Equities | JANEX vs JNGLX | |
| Janus Henderson Global Life Sciences Fund Class T | 0.45 | 0.61 | 0.67 | 92 | Health & Biotech Equities | JANEX vs JAGLX | |
| Janus Henderson Global Life Sciences Fund Class A | 0.45 | 0.61 | 0.68 | 92 | Health & Biotech Equities | JANEX vs JFNAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for JANEX, 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 Agree Realty Corporation (ADC) (Real Estate) with a 1Y correlation of 0.01, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Agree Realty Corporation | 0.01 | 0.18 | 0.28 | 60 | Real Estate | |
| Realty Income Corporation | 0.09 | 0.25 | 0.36 | 74 | Real Estate | |
| Apple Inc | 0.30 | 0.37 | 0.53 | 90 | Technology | |
| Alphabet Inc. Class A | 0.37 | 0.38 | 0.51 | 96 | Communication Services | |
| Amazon.com, Inc | 0.40 | 0.43 | 0.55 | 72 | Consumer Cyclical |
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