Looking to diversify beyond JPC? The mutual funds below have the lowest correlation with JPC — 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 JPC.
Best Diversifiers for JPC
3 mutual funds have low correlation with JPC (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Massachusetts Quality Municipal Income Fund (NMT) (Municipal Bonds) with a 1Y correlation of 0.13, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 0.13 | 0.29 | 0.27 | 55 | Municipal Bonds | JPC vs NMT | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.27 | 0.16 | 0.17 | 77 | High Yield Muni | JPC vs NVHIX | |
| Nuveen Minnesota Quality Municipal Income Fund | 0.28 | 0.27 | 0.20 | 76 | Municipal Bonds | JPC vs NMS | |
| Lord Abbett Convertible Fund Class F | 0.34 | 0.32 | 0.43 | 76 | Preferred Stock/Convertible Bonds | JPC vs LBFFX | |
| Nuveen High Yield Municipal Bond Fund | 0.35 | 0.25 | 0.24 | 79 | High Yield Muni | JPC vs NHMRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from JPC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to JPC and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.09, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.09 | 0.16 | 0.25 | 87 | Energy | |
| Hess Midstream LP | -0.08 | 0.11 | 0.19 | 56 | Energy | |
| Antero Midstream Corporation | -0.07 | 0.16 | 0.28 | 85 | Energy | |
| Energy Transfer LP | -0.01 | 0.19 | 0.28 | 84 | Energy | |
| Western Midstream Partners, LP | -0.00 | 0.18 | 0.27 | 80 | Energy |
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