Looking to diversify beyond JNRFX? The mutual funds below have the lowest correlation with JNRFX — 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 JNRFX.
Best Diversifiers for JNRFX
6 mutual funds have low correlation with JNRFX (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 0.12, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson Short Duration Flexible Bond Fund | 0.12 | 0.06 | 0.10 | 82 | Short-Term Bond | JNRFX vs JNSTX | |
| Janus Henderson Global Life Sciences Fund Class T | 0.23 | 0.39 | 0.54 | 91 | Health & Biotech Equities | JNRFX vs JAGLX | |
| Janus Henderson Global Life Sciences Fund | 0.23 | 0.39 | 0.54 | 91 | Health & Biotech Equities | JNRFX vs JNGLX | |
| Janus Henderson Global Life Sciences Fund Class A | 0.23 | 0.39 | 0.55 | 91 | Health & Biotech Equities | JNRFX vs JFNAX | |
| T. Rowe Price Health Sciences Fund | 0.27 | 0.44 | 0.59 | 68 | Health & Biotech Equities | JNRFX vs PRHSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from JNRFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to JNRFX and solid risk/return profiles. The least correlated is PepsiCo, Inc. (PEP) (Consumer Defensive) with a 1Y correlation of -0.28, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PepsiCo, Inc. | -0.28 | -0.09 | 0.10 | 50 | Consumer Defensive | |
| Electronic Arts Inc. | 0.09 | 0.26 | 0.37 | 95 | Communication Services | |
| FedEx Corporation | 0.22 | 0.27 | 0.42 | 97 | Industrials | |
| eBay Inc. | 0.25 | 0.24 | 0.42 | 82 | Consumer Cyclical |
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