Jhancock Multimanager Correlations

Mutual Funds . USA . 
Fund . Jhancock Multimanager 2065
JABBX Fund  USD 13.91  0.02  0.14%   
The current 90-days correlation between Jhancock Multimanager and Regional Bank Fund is 0.54 (i.e., Very weak diversification). The correlation of Jhancock Multimanager 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 Multimanager Correlation With Market

Significant diversification

The correlation between Jhancock Multimanager 2065 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Multimanager 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 Multimanager 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 bureau of labor statistics.

Moving together with Jhancock Mutual Fund

  0.82FRBAX Regional BankPairCorr
  0.82FRBCX Regional BankPairCorr
  0.68JQLMX Multimanager LifestylePairCorr
  0.92JQLBX Multimanager LifestylePairCorr
  1.0JQLAX Multimanager LifestylePairCorr
  0.98JQLGX Multimanager LifestylePairCorr
  0.82JRBFX Regional BankPairCorr
  1.0JRETX J Hancock IiPairCorr
  0.82JRGRX Regional BankPairCorr
  0.62JRLOX Retirement Living ThroughPairCorr
  0.92JRLQX Retirement Living ThroughPairCorr
  0.92JRLUX Multi Index 2045PairCorr
  0.93JRLWX Retirement Living ThroughPairCorr
  0.92JRLVX Retirement Living ThroughPairCorr
  0.93JRLZX Retirement Living ThroughPairCorr
  0.93JROUX J Hancock IiPairCorr
  0.93JRODX J Hancock IiPairCorr
  0.93JAAFX Jhancock Multi IndexPairCorr
  1.0JAAJX Jhancock Multi IndexPairCorr
  0.88JAAIX Alternative AssetPairCorr
  1.0JAAKX Jhancock Multi IndexPairCorr
  0.82JAAPX Alternative AssetPairCorr
  0.72JRTBX Retirement Living ThroughPairCorr
  0.62JRTAX Retirement Living ThroughPairCorr
  0.85JAARX Alternative AssetPairCorr
  0.86JRTGX Retirement Living ThroughPairCorr
  0.72JRTFX Retirement Living ThroughPairCorr
  0.83JAASX Alternative AssetPairCorr
  0.86JRTIX Multi Index 2030PairCorr
  0.93JAAVX Jhancock MultimanagerPairCorr
  0.93JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Jhancock Mutual Fund performing well and Jhancock Multimanager 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 Multimanager'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FRBAX  1.21  0.27  0.16  9.58  0.99 
(1.54)
 2.76 
(1.66)
 15.75 
FRBCX  1.21  0.27  0.16  11.99  0.99 
(1.54)
 2.74 
(1.65)
 15.70 
JQLMX  0.24  0.00 (0.22) 0.12  0.25 
(0.26)
 0.56 
(0.48)
 1.43 
JQLBX  0.32  0.02 (0.11) 0.58  0.30 
(0.38)
 0.66 
(0.58)
 2.06 
JQLAX  0.47  0.06 (0.02) 1.02  0.41 
(0.52)
 1.07 
(0.91)
 3.11 
JQLCX  0.16 (0.01)(0.32)(0.07) 0.17 
(0.21)
 0.34 
(0.33)
 1.00 
JQLGX  0.41  0.05 (0.05) 0.95  0.39 
(0.45)
 0.90 
(0.69)
 2.65 
JRBFX  1.21  0.27  0.16  10.80  0.99 
(1.54)
 2.73 
(1.66)
 15.74 
JRETX  0.47  0.07  0.00  1.31  0.40 
(0.57)
 1.07 
(0.83)
 3.08 
JRGRX  1.21  0.27  0.16  8.93  0.98 
(1.54)
 2.76 
(1.65)
 15.70 

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