John Hancock Correlations

BTO Fund

USD 33.92 0.71 2.14%

The current 90-days correlation between John Hancock Financial and Tekla Life Sciences is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as John Hancock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if John Hancock Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

John Hancock Correlation With Market

Good diversification

The correlation between John Hancock Financial and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in John Hancock Financial. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with John Fund

0.77	CCD	Calamos Dynamic Conv	Pair Corr
0.65	PGLSX	Global Multi Strategy	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.72	WMT	Walmart	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.71	BA	Boeing	Pair Corr
0.86	AXP	American Express	Pair Corr
0.83	JPM	JPMorgan Chase	Pair Corr

Moving against John Fund

0.45	CUBA	Herzfeld Caribbean Basin	Pair Corr
0.38	VICSX	Vanguard Intermediate-ter	Pair Corr
0.34	ABNOX	Ab Bond Inflation	Pair Corr
0.33	PG	Procter Gamble	Pair Corr
0.44	MCD	McDonalds	Pair Corr
0.43	KO	Coca Cola	Pair Corr
0.39	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	HQL	THW	THQ	RVT	RNP	UTF	RFI	UTG	BST	RQI
HQL		0.61	0.57	0.51	0.43	0.2	0.47	0.66	0.65	0.62	HQL
THW	0.61		0.98	-0.22	0.8	0.67	0.88	0.44	-0.05	0.88	THW
THQ	0.57	0.98		-0.26	0.8	0.68	0.86	0.37	-0.12	0.85	THQ
RVT	0.51	-0.22	-0.26		-0.35	-0.49	-0.28	0.53	0.91	-0.04	RVT
RNP	0.43	0.8	0.8	-0.35		0.84	0.86	0.28	-0.11	0.76	RNP
UTF	0.2	0.67	0.68	-0.49	0.84		0.7	0.24	-0.32	0.54	UTF
RFI	0.47	0.88	0.86	-0.28	0.86	0.7		0.42	-0.03	0.94	RFI
UTG	0.66	0.44	0.37	0.53	0.28	0.24	0.42		0.67	0.53	UTG
BST	0.65	-0.05	-0.12	0.91	-0.11	-0.32	-0.03	0.67		0.17	BST
RQI	0.62	0.88	0.85	-0.04	0.76	0.54	0.94	0.53	0.17		RQI
	HQL	THW	THQ	RVT	RNP	UTF	RFI	UTG	BST	RQI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

THQ	+ 0.98	THW
RQI	+ 0.94	RFI
BST	+ 0.91	RVT
RFI	+ 0.88	THW
RQI	+ 0.88	THW
RFI	+ 0.86	THQ

High negative correlations

UTF	- 0.49	RVT
RNP	- 0.35	RVT
BST	- 0.32	UTF
RFI	- 0.28	RVT
RVT	- 0.26	THQ
RVT	- 0.22	THW

Risk-Adjusted Indicators

There is a big difference between John Fund performing well and John Hancock Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze John Hancock's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HQL	0.83	0.01	0.04	0.10	1.13	(0.77)	2.07	(1.67)	4.09
THW	0.58	0.15	0.24	0.97	0.50	(0.66)	1.28	(1.24)	3.96
THQ	0.78	0.19	0.28	1.54	0.59	(0.96)	1.73	(1.24)	4.40
RVT	0.80	(0.08)	0.00	0.95	0.00	0.00	1.43	(1.85)	4.49
RNP	0.66	0.08	0.11	0.12	0.82	(0.71)	1.44	(1.41)	4.54
UTF	0.61	0.11	0.20	0.34	0.52	(0.76)	1.61	(0.96)	3.59
RFI	0.63	0.06	0.11	(2.42)	0.75	(0.69)	1.23	(1.05)	4.04
UTG	0.88	0.09	0.08	0.62	1.26	(0.81)	1.92	(2.31)	5.69
BST	1.09	(0.09)	0.00	1.74	0.00	0.00	1.91	(2.99)	7.59
RQI	0.79	0.05	0.08	(0.70)	1.05	(0.79)	1.64	(1.72)	4.73

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC