Looking to diversify beyond JVMIX? The mutual funds below have historically moved differently from JVMIX, 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 JVMIX
4 mutual funds have low correlation with JVMIX (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock Funds Floating Rate Income Fund (JFIIX) (Bank Loan) with a 1Y correlation of 0.17, roughly unchanged from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock Funds Floating Rate Income Fund | 0.17 | 0.18 | 0.23 | 53 | Bank Loan | JVMIX vs JFIIX | |
| John Hancock California Municipal Bond Fund | 0.23 | 0.16 | 0.10 | 75 | Municipal Bonds | JVMIX vs TACAX | |
| John Hancock High Yield Municipal Bond Fund | 0.26 | 0.16 | 0.10 | 80 | High Yield Muni | JVMIX vs JHTFX | |
| JHancock Municipal Opportunities Fund | 0.28 | 0.17 | 0.11 | 65 | Municipal Bonds | JVMIX vs TAMBX | |
| JHancock Short Duration Bond Fund | 0.31 | 0.22 | 0.22 | 86 | Short-Term Bond | JVMIX vs JSNIX |
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