Jhancock Multi-index Correlations

Mutual Funds . USA . 
Fund . Jhancock Multi Index 2065
JAAJX Fund  USD 14.14  0.13  0.91%   
The current 90-days correlation between Jhancock Multi Index and Ab High Income is -0.26 (i.e., Very good diversification). The correlation of Jhancock Multi-index 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.

Jhancock Multi-index Correlation With Market

Poor diversification

The correlation between Jhancock Multi Index 2065 and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Multi Index 2065 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 Jhancock Multi Index 2065. 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 inflation.

Moving together with Jhancock Mutual Fund

  0.87FRBAX Regional BankPairCorr
  0.67FRBCX Regional BankPairCorr
  0.79JQLMX Multimanager LifestylePairCorr
  0.94JQLBX Multimanager LifestylePairCorr
  0.98JQLAX Multimanager LifestylePairCorr
  0.98JQLGX Multimanager LifestylePairCorr
  0.87JRBFX Regional BankPairCorr
  0.99JRETX J Hancock IiPairCorr
  0.87JRGRX Regional BankPairCorr
  0.62JRLOX Retirement Living ThroughPairCorr
  0.86JRLQX Retirement Living ThroughPairCorr
  0.98JRLUX Multi Index 2045PairCorr
  0.98JRLWX Retirement Living ThroughPairCorr
  0.86JRLVX Retirement Living ThroughPairCorr
  0.98JRLZX Retirement Living ThroughPairCorr
  0.99JROUX J Hancock IiPairCorr
  0.98JRODX J Hancock IiPairCorr
  1.0JAAFX Jhancock Multi IndexPairCorr
  0.76JAAIX Alternative AssetPairCorr
  0.62JRTAX Retirement Living ThroughPairCorr
  0.76JAARX Alternative AssetPairCorr
  0.7JRTDX Multi Index 2025PairCorr
  0.84JRTGX Retirement Living ThroughPairCorr
  0.7JRTFX Retirement Living ThroughPairCorr
  0.69JAASX Alternative AssetPairCorr
  0.85JRTIX Multi Index 2030PairCorr
  0.99JAAVX Jhancock MultimanagerPairCorr
  0.79JRTKX Retirement Living ThroughPairCorr
  0.84JRTJX Retirement Living ThroughPairCorr
  0.99JAAWX Jhancock MultimanagerPairCorr
  0.91JRTMX Multi Index 2035PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Jhancock Mutual Fund performing well and Jhancock Multi-index 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 Jhancock Multi-index'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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