The Fixed Correlations

HCHYX Fund

USD 7.42 0.06 0.82%

The current 90-days correlation between Fixed Income and John Hancock Government is 0.49 (i.e., Very weak diversification). The correlation of The Fixed 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.

The Fixed Correlation With Market

Very weak diversification

The correlation between The Fixed Income and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Fixed Income 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 The Fixed Income. 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 manufacturing.

Moving together with The Mutual Fund

0.68	VITSX	Vanguard Total Stock	Pair Corr
0.68	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr
0.72	VGTSX	Vanguard Total Inter	Pair Corr
0.72	VTIAX	Vanguard Total Inter	Pair Corr
0.86	BRUFX	Bruce Fund Bruce	Pair Corr
0.78	MRSIX	Mfs Research Interna	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.68	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	JGIFX	FCSCX	AUNCX	PMUAX	LOISX	BBINX
JGIFX		0.32	0.77	0.96	0.95	0.96	JGIFX
FCSCX	0.32		0.72	0.32	0.45	0.42	FCSCX
AUNCX	0.77	0.72		0.81	0.88	0.86	AUNCX
PMUAX	0.96	0.32	0.81		0.98	0.99	PMUAX
LOISX	0.95	0.45	0.88	0.98		1.0	LOISX
BBINX	0.96	0.42	0.86	0.99	1.0		BBINX
	JGIFX	FCSCX	AUNCX	PMUAX	LOISX	BBINX

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Fixed 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 The Fixed'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
JGIFX	0.23	(0.01)	0.04	(0.18)	0.29	(0.26)	0.52	(0.52)	1.18
FCSCX	0.06	0.01	0.21	0.37	0.00	(0.17)	0.13	(0.13)	0.53
AUNCX	0.12	0.00	0.09	0.09	0.15	(0.15)	0.28	(0.28)	0.94
PMUAX	0.14	(0.01)	0.05	(0.16)	0.20	(0.16)	0.25	(0.33)	0.82
LOISX	0.13	(0.01)	0.05	(0.21)	0.19	(0.16)	0.29	(0.30)	0.88
BBINX	0.13	(0.01)	0.06	(0.34)	0.18	(0.17)	0.29	(0.29)	0.78

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The Fixed Correlations

The Fixed Correlation With Market

Very weak diversification

Moving together with The Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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