John Hancock Correlations

JABOX Fund

USD 11.93 0.01 0.08%

The current 90-days correlation between John Hancock Opportu and Prudential Health Sciences is 0.26 (i.e., Modest 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

Good diversification

The correlation between John Hancock Opportunistic and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Opportunistic 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. 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 persons.

Moving against John Mutual Fund

0.62	FRBAX	Regional Bank	Pair Corr
0.62	FRBCX	Regional Bank	Pair Corr
0.62	JRBFX	Regional Bank	Pair Corr
0.62	JRGRX	Regional Bank	Pair Corr
0.35	JRETX	J Hancock Ii	Pair Corr
0.34	JROUX	J Hancock Ii	Pair Corr
0.34	JAAVX	Jhancock Multimanager	Pair Corr
0.34	JABDX	Jhancock Multimanager	Pair Corr
0.34	JABBX	Jhancock Multimanager	Pair Corr
0.34	JABEX	Jhancock Multimanager	Pair Corr
0.33	JAAWX	Jhancock Multimanager	Pair Corr
0.33	JAAZX	Jhancock Multimanager	Pair Corr

Related Correlations Analysis

	PHLAX	BGHDX	XXGRX	SCHLX	DLHIX	LHCCX
PHLAX		0.86	0.89	0.88	0.63	0.54	PHLAX
BGHDX	0.86		0.8	0.8	0.59	0.32	BGHDX
XXGRX	0.89	0.8		0.97	0.78	0.32	XXGRX
SCHLX	0.88	0.8	0.97		0.77	0.37	SCHLX
DLHIX	0.63	0.59	0.78	0.77		0.0	DLHIX
LHCCX	0.54	0.32	0.32	0.37	0.0		LHCCX
	PHLAX	BGHDX	XXGRX	SCHLX	DLHIX	LHCCX

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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

SCHLX	+ 0.97	XXGRX
XXGRX	+ 0.89	PHLAX
SCHLX	+ 0.88	PHLAX
BGHDX	+ 0.86	PHLAX
XXGRX	+ 0.8	BGHDX
SCHLX	+ 0.8	BGHDX

High negative correlations

LHCCX

- 0.0

DLHIX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PHLAX	0.68	(0.16)	(0.18)	1.04	(1.82)	5.07
BGHDX	0.97	(0.14)	(0.11)	1.38	(1.69)	8.70
XXGRX	0.65	(0.20)	(0.90)	1.01	(1.57)	2.74
SCHLX	0.55	(0.17)	(0.93)	0.89	(1.30)	3.39
DLHIX	0.80	(0.39)	(0.45)	0.99	(1.78)	13.29
LHCCX	0.75	(0.06)	(0.23)	1.50	(1.45)	5.15

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