Looking to diversify beyond JHBSX? The mutual funds below have historically moved differently from JHBSX, 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 JHBSX
2 mutual funds have low correlation with JHBSX (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock Funds Alternative Asset Allocation Fund (JAAAX) (Multistrategy) with a 1Y correlation of 0.24, roughly unchanged from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock Funds Alternative Asset Allocation Fu... | 0.24 | 0.28 | 0.27 | 96 | Multistrategy | JHBSX vs JAAAX | |
| John Hancock Disciplined Value Global Long/Short F... | 0.25 | — | — | 94 | Long-Short | JHBSX vs JAKVX | |
| John Hancock Funds Disciplined Value Fund | 0.31 | 0.23 | 0.15 | 86 | Large Cap Value Equities | JHBSX vs JVLIX | |
| John Hancock Variable Insurance Trust 500 Index Tr... | 0.35 | 0.23 | 0.20 | 60 | Large Cap Blend Equities | JHBSX vs JFIVX | |
| John Hancock Funds Disciplined Value Mid Cap Fund ... | 0.35 | 0.27 | 0.19 | 54 | Mid Cap Value Equities | JHBSX vs JVMIX |
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