Looking to diversify beyond JANIX? The mutual funds below have the lowest correlation with JANIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from JANIX.
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 0.16, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson Short Duration Flexible Bond Fund | 0.16 | 0.12 | 0.12 | 63 | Short-Term Bond | JANIX vs JNSTX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.32 | 0.60 | 0.78 | 78 | Small Cap Growth Equities | JANIX vs QISGX | |
| Janus Henderson Absolute Return Income Opportuniti... | 0.33 | 0.25 | 0.26 | 91 | Nontraditional Bonds | JANIX vs JUCIX | |
| Janus Henderson Multi-Sector Income Fund | 0.43 | 0.32 | 0.26 | 67 | Multisector Bonds | JANIX vs JMUIX | |
| Janus Henderson Developed World Bond Fund Class D | 0.49 | 0.26 | 0.20 | 58 | Global Bonds | JANIX vs HFADX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from JANIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to JANIX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.32, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.32 | 0.37 | 0.52 | 87 | Technology | |
| Alphabet Inc. Class A | 0.38 | 0.38 | 0.51 | 96 | Communication Services | |
| Amazon.com, Inc | 0.39 | 0.43 | 0.54 | 54 | Consumer Cyclical |
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