Looking to diversify beyond JIJIX? The mutual funds below have the lowest correlation with JIJIX — 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 JIJIX.
Best Diversifiers for JIJIX
2 mutual funds have low correlation with JIJIX (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock California Municipal Bond Fund (TACAX) (Municipal Bonds) with a 1Y correlation of 0.24, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock California Municipal Bond Fund | 0.24 | 0.17 | 0.16 | 57 | Municipal Bonds | JIJIX vs TACAX | |
| JHancock Municipal Opportunities Fund | 0.24 | 0.15 | 0.14 | 67 | Municipal Bonds | JIJIX vs TAMBX | |
| JHancock Short Duration Bond Fund | 0.31 | 0.23 | 0.26 | 75 | Short-Term Bond | JIJIX vs JSNIX | |
| John Hancock Funds Emerging Markets Debt Fund | 0.40 | 0.33 | 0.37 | 82 | Emerging Markets Bonds | JIJIX vs JMKIX | |
| Pear Tree Polaris Foreign Value Fund | 0.40 | 0.46 | 0.54 | 78 | Foreign Large Cap Equities | JIJIX vs QFVOX |
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