John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock Mid
JACLX Fund  USD 18.92  0.14  0.75%   
The current 90-days correlation between John Hancock Mid and Regional Bank Fund is 0.01 (i.e., Significant 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

Poor diversification

The correlation between John Hancock Mid and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Mid 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 Mid. 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 economic analysis.

Moving together with John Mutual Fund

  0.94FRBAX Regional BankPairCorr
  0.94FRBCX Regional BankPairCorr
  0.71JQLBX Multimanager LifestylePairCorr
  0.85JQLAX Multimanager LifestylePairCorr
  0.82JQLGX Multimanager LifestylePairCorr
  0.94JRBFX Regional BankPairCorr
  0.88JRETX J Hancock IiPairCorr
  0.94JRGRX Regional BankPairCorr
  0.86JRLQX Retirement Living ThroughPairCorr
  0.85JRLUX Multi Index 2045PairCorr
  0.87JRLWX Retirement Living ThroughPairCorr
  0.86JRLVX Retirement Living ThroughPairCorr
  0.88JRLZX Retirement Living ThroughPairCorr
  0.91JROUX J Hancock IiPairCorr
  0.87JRODX J Hancock IiPairCorr
  0.88JAAFX Jhancock Multi IndexPairCorr
  0.84JAAJX Jhancock Multi IndexPairCorr
  0.73JAAIX Alternative AssetPairCorr
  0.84JAAKX Jhancock Multi IndexPairCorr
  0.74JAAPX Alternative AssetPairCorr
  0.77JAARX Alternative AssetPairCorr
  0.61JRTGX Retirement Living ThroughPairCorr
  0.76JAASX Alternative AssetPairCorr
  0.61JRTIX Multi Index 2030PairCorr
  0.91JAAVX Jhancock MultimanagerPairCorr
  0.74JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 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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