Looking to diversify beyond JFRDX? The mutual funds below have historically moved differently from JFRDX, 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 JFRDX
6 mutual funds have low correlation with JFRDX (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 0.13, roughly unchanged from 0.11 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 | 0.13 | 0.07 | 0.11 | 82 | Short-Term Bond | JFRDX vs JNSTX | |
| Janus Henderson Global Real Estate Fund | 0.13 | 0.35 | 0.50 | 55 | REIT | JFRDX vs JERIX | |
| Janus Henderson Global Life Sciences Fund Class T | 0.22 | 0.41 | 0.55 | 91 | Health & Biotech Equities | JFRDX vs JAGLX | |
| Janus Henderson Global Life Sciences Fund Class A | 0.22 | 0.42 | 0.56 | 91 | Health & Biotech Equities | JFRDX vs JFNAX | |
| Janus Henderson Global Life Sciences Fund | 0.22 | 0.42 | 0.56 | 92 | Health & Biotech Equities | JFRDX vs JNGLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for JFRDX, 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 PepsiCo, Inc. (PEP) (Consumer Defensive) with a 1Y correlation of -0.31, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PepsiCo, Inc. | -0.31 | -0.08 | 0.10 | 50 | Consumer Defensive | |
| Electronic Arts Inc. | 0.09 | 0.26 | 0.38 | 96 | Communication Services | |
| FedEx Corporation | 0.20 | 0.28 | 0.42 | 96 | Industrials | |
| eBay Inc. | 0.28 | 0.25 | 0.43 | 67 | Consumer Cyclical | |
| Apple Inc | 0.36 | 0.45 | 0.62 | 89 | Technology |
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