Looking to diversify beyond JLBAX? The mutual funds below have historically moved differently from JLBAX, 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 JLBAX
0 mutual funds have low correlation with JLBAX (below 0.3), 0 of which are negatively correlated. The least correlated is JHancock Infrastructure Fund (JEEIX) (Infrastructure Equities) with a 1Y correlation of 0.40, down from 0.66 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JHancock Infrastructure Fund | 0.40 | 0.56 | 0.66 | 80 | Infrastructure Equities, Energy Equities | JLBAX vs JEEIX | |
| John Hancock Disciplined Value Global Long/Short F... | 0.65 | — | — | 94 | Long-Short | JLBAX vs JAKVX | |
| John Hancock Funds Alternative Asset Allocation Fu... | 0.76 | 0.80 | 0.82 | 96 | Multistrategy | JLBAX vs JAAAX | |
| John Hancock Small Cap Core Fund | 0.76 | 0.75 | 0.78 | 67 | Small Cap Blend Equities | JLBAX vs JCCIX | |
| John Hancock Funds Disciplined Value Fund | 0.80 | 0.79 | 0.79 | 88 | Large Cap Value Equities | JLBAX vs JVLIX |
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