Looking to diversify beyond JMENX? The mutual funds below have the lowest correlation with JMENX — 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 JMENX.
Best Diversifiers for JMENX
0 mutual funds have low correlation with JMENX (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock Disciplined Value Global Long/Short Fund Class R6 (JAKVX) (Long-Short) with a 1Y correlation of 0.66, roughly unchanged from 0.61 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock Disciplined Value Global Long/Short F... | 0.66 | 0.61 | 0.61 | 81 | Long-Short | JMENX vs JAKVX | |
| John Hancock Funds Alternative Asset Allocation Fu... | 0.75 | 0.83 | 0.86 | 93 | Multistrategy | JMENX vs JAAAX | |
| Dimensional Retirement Income Fund | 0.75 | 0.76 | 0.73 | 77 | Target Retirement Date | JMENX vs TDIFX | |
| Prudential Day One Income Fund | 0.81 | 0.80 | 0.81 | 79 | Target Retirement Date | JMENX vs PDAHX | |
| Fidelity Advisor Managed Retirement 2010 Fund Clas... | 0.81 | 0.74 | 0.74 | 65 | Target Retirement Date | JMENX vs FRQIX |
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