Looking to diversify beyond JANIX? The mutual funds below have historically moved differently from JANIX, 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 JANIX
1 mutual funds have low correlation with JANIX (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 0.14, roughly unchanged from 0.12 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 | 0.14 | 0.11 | 0.12 | 75 | Short-Term Bond | JANIX vs JNSTX | |
| Janus Henderson Absolute Return Income Opportuniti... | 0.35 | 0.25 | 0.27 | 89 | Nontraditional Bonds | JANIX vs JUCIX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.40 | 0.60 | 0.77 | 63 | Small Cap Growth Equities | JANIX vs QISGX | |
| Janus Henderson Multi-Sector Income Fund | 0.46 | 0.32 | 0.27 | 52 | Multisector Bonds | JANIX vs JMUIX | |
| Janus Henderson Global Real Estate Fund | 0.49 | 0.61 | 0.67 | 51 | REIT | JANIX vs JERIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for JANIX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.29, down from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.29 | 0.30 | 0.45 | 90 | Technology | |
| Alphabet Inc. Class A | 0.36 | 0.37 | 0.50 | 96 | Communication Services | |
| Amazon.com, Inc | 0.37 | 0.38 | 0.49 | 72 | Consumer Cyclical |
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