John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock International
GOGIX Fund  USD 29.17  0.12  0.41%   
The current 90-days correlation between John Hancock Interna and John Hancock Bond is 0.04 (i.e., Significant diversification). The correlation of John Hancock is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

John Hancock Correlation With Market

Very weak diversification

The correlation between John Hancock International and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock International and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in John Hancock International. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with John Mutual Fund

  0.69JQLMX Multimanager LifestylePairCorr
  0.87JQLCX Multimanager LifestylePairCorr
  0.9JRLDX Retirement Living ThroughPairCorr
  0.9JRLFX Multi Index 2010PairCorr
  0.87JRLIX Retirement Living ThroughPairCorr
  0.9JRLHX Retirement Living ThroughPairCorr
  0.86JRLKX Multi Index 2015PairCorr
  0.87JRLLX Retirement Living ThroughPairCorr
  0.82JRLOX Retirement Living ThroughPairCorr
  0.81JRLPX Multi Index 2020PairCorr
  0.65JAAIX Alternative AssetPairCorr
  0.64JAAPX Alternative AssetPairCorr
  0.77JRTBX Retirement Living ThroughPairCorr
  0.82JRTAX Retirement Living ThroughPairCorr
  0.66JAARX Alternative AssetPairCorr
  0.77JRTDX Multi Index 2025PairCorr
  0.65JRTGX Retirement Living ThroughPairCorr
  0.78JRTFX Retirement Living ThroughPairCorr
  0.66JAASX Alternative AssetPairCorr
  0.63JRTIX Multi Index 2030PairCorr

Related Correlations Analysis

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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   
LCEYX
+ 0.92
HLIEX
OSMYX
+ 0.75
JHBIX
LCEYX
+ 0.61
OSMYX
HLIEX
+ 0.6
OSMYX
LCEYX
+ 0.38
JVMIX
HLIEX
+ 0.34
JHBIX
  
High negative correlations   
JVMIX
- 0.33
JHBIX
OSMYX
- 0.07
JVMIX

Risk-Adjusted Indicators

There is a big difference between John Mutual Fund performing well and John Hancock Mutual 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.

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