John Hancock Correlations

HTD Fund

USD 23.31 0.09 0.38%

The current 90-days correlation between John Hancock Tax and John Hancock Preferred is 0.18 (i.e., Average 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.

John Hancock Correlation With Market

Very weak diversification

The correlation between John Hancock Tax and DJI is 0.4 (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 Tax 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 Tax. 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

0.91	VTISX	Vanguard Total Inter	Pair Corr
0.91	VTSNX	Vanguard Total Inter	Pair Corr
0.91	VTPSX	Vanguard Total Inter	Pair Corr
0.79	WATCX	Western Asset Interm	Pair Corr
0.8	RBBCX	Columbia Income Builder	Pair Corr
0.67	ARRZX	Amg River Road	Pair Corr
0.81	GIGGX	Deutsche Gnma	Pair Corr
0.89	CBURX	Columbia Income Builder	Pair Corr
0.84	BACPX	Blackrock Conservative	Pair Corr
0.78	REMVX	Rbc Emerging Markets	Pair Corr
0.9	DURIX	Deutsche European Equity	Pair Corr
0.86	NHILX	Neuberger Berman High	Pair Corr
0.9	CCLFX	Cliffwater Corporate	Pair Corr
0.66	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.85	VMSAX	Vanguard Multi Sector	Pair Corr
0.73	ACCSX	Access Capital Munity	Pair Corr
0.61	WCCFX	Wealthbuilder Conservative	Pair Corr
0.79	RIRFX	Capital Income Builder	Pair Corr
0.86	PCCFX	Prudential Income Builder	Pair Corr
0.87	CITEX	American High Income	Pair Corr
0.78	FXIDX	Fixed Income Shares	Pair Corr
0.75	THYAX	High Yield Fund	Pair Corr
0.86	PDINX	Putnam Diversified Income	Pair Corr
0.79	ASBFX	Short Term Bond	Pair Corr
0.79	NWJJX	Nationwide Highmark Bond	Pair Corr
0.88	XSWZX	Swiss Helvetia	Pair Corr
0.83	HIMZX	Virtus Low Duration	Pair Corr
0.86	PUGCX	Putnam Global Equity	Pair Corr
0.8	BRKRX	Mfs Blended Research	Pair Corr

Moving against John Fund

0.48

ABQYX

Ab Intermediate Bond

Pair Corr

Related Correlations Analysis

	HPI	HPS	HPF	PCN	PDT	PTA	ETG	CSQ	ETO	ETV
HPI		0.73	0.92	0.78	0.81	0.83	0.84	0.39	0.77	0.45	HPI
HPS	0.73		0.89	0.87	0.7	0.66	0.72	0.05	0.54	0.15	HPS
HPF	0.92	0.89		0.9	0.82	0.77	0.83	0.18	0.66	0.28	HPF
PCN	0.78	0.87	0.9		0.75	0.71	0.82	0.03	0.62	0.12	PCN
PDT	0.81	0.7	0.82	0.75		0.59	0.75	0.04	0.59	0.13	PDT
PTA	0.83	0.66	0.77	0.71	0.59		0.67	0.35	0.61	0.41	PTA
ETG	0.84	0.72	0.83	0.82	0.75	0.67		0.37	0.88	0.42	ETG
CSQ	0.39	0.05	0.18	0.03	0.04	0.35	0.37		0.67	0.96	CSQ
ETO	0.77	0.54	0.66	0.62	0.59	0.61	0.88	0.67		0.68	ETO
ETV	0.45	0.15	0.28	0.12	0.13	0.41	0.42	0.96	0.68		ETV
	HPI	HPS	HPF	PCN	PDT	PTA	ETG	CSQ	ETO	ETV

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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
HPI	0.61	0.00	0.09	(0.09)	0.77	(0.61)	1.24	(1.26)	5.44
HPS	0.70	(0.01)	0.07	0.12	0.93	(0.75)	1.29	(1.42)	4.99
HPF	0.56	0.02	0.11	0.03	0.71	(0.52)	1.18	(1.10)	2.71
PCN	0.34	0.01	0.10	(0.02)	0.60	(0.31)	0.68	(0.75)	2.11
PDT	0.64	0.05	0.17	(1.47)	0.65	(0.76)	1.44	(1.28)	3.38
PTA	0.53	(0.04)	0.00	0.22	0.00	0.00	1.20	(1.09)	3.29
ETG	0.76	0.04	0.00	(0.01)	0.00	0.00	1.41	(1.55)	4.29
CSQ	0.82	(0.06)	0.00	(0.15)	0.00	0.00	1.33	(1.89)	5.19
ETO	0.61	0.01	0.00	(0.06)	0.00	0.00	1.37	(1.32)	3.23
ETV	0.70	(0.05)	0.00	(0.16)	0.00	0.00	1.50	(1.59)	3.67

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