John Hancock Correlations

JGIFX Fund

USD 7.82 0.00 0.00%

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 Government and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Government 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 census.

Moving against John Mutual Fund

0.68	FRBAX	Regional Bank	Pair Corr
0.68	FRBCX	Regional Bank	Pair Corr
0.68	JRBFX	Regional Bank	Pair Corr
0.68	JRGRX	Regional Bank	Pair Corr
0.44	JQLAX	Multimanager Lifestyle	Pair Corr
0.42	JRETX	J Hancock Ii	Pair Corr
0.39	JQLGX	Multimanager Lifestyle	Pair Corr
0.45	JROUX	J Hancock Ii	Pair Corr
0.4	JRLWX	Retirement Living Through	Pair Corr
0.39	JRLZX	Retirement Living Through	Pair Corr
0.38	JRODX	J Hancock Ii	Pair Corr
0.35	JRLUX	Multi Index 2045	Pair Corr
0.34	JRLQX	Retirement Living Through	Pair Corr
0.34	JRLVX	Retirement Living Through	Pair Corr
0.34	JAAFX	Jhancock Multi Index	Pair Corr
0.34	JAAJX	Jhancock Multi Index	Pair Corr
0.34	JAAKX	Jhancock Multi Index	Pair Corr
0.41	JAAWX	Jhancock Multimanager	Pair Corr
0.41	JAAZX	Jhancock Multimanager	Pair Corr
0.41	JABBX	Jhancock Multimanager	Pair Corr
0.41	JABFX	Jhancock Real Estate	Pair Corr
0.4	JAAVX	Jhancock Multimanager	Pair Corr
0.4	JABDX	Jhancock Multimanager	Pair Corr

Related Correlations Analysis

	INRSX	TREIX	PSPFX	ENPSX	FIKAX	HNRGX	ALEFX	VENAX
INRSX		0.0	0.87	0.78	0.94	0.86	0.74	0.84	INRSX
TREIX	0.0		-0.12	0.45	0.14	0.39	0.46	0.34	TREIX
PSPFX	0.87	-0.12		0.69	0.86	0.75	0.63	0.76	PSPFX
ENPSX	0.78	0.45	0.69		0.92	0.98	0.86	0.99	ENPSX
FIKAX	0.94	0.14	0.86	0.92		0.96	0.82	0.96	FIKAX
HNRGX	0.86	0.39	0.75	0.98	0.96		0.87	0.99	HNRGX
ALEFX	0.74	0.46	0.63	0.86	0.82	0.87		0.85	ALEFX
VENAX	0.84	0.34	0.76	0.99	0.96	0.99	0.85		VENAX
	INRSX	TREIX	PSPFX	ENPSX	FIKAX	HNRGX	ALEFX	VENAX

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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

VENAX	+ 0.99	ENPSX
VENAX	+ 0.99	HNRGX
HNRGX	+ 0.98	ENPSX
HNRGX	+ 0.96	FIKAX
VENAX	+ 0.96	FIKAX
FIKAX	+ 0.94	INRSX

High negative correlations

PSPFX	- 0.12	TREIX
TREIX	- 0.0	INRSX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
INRSX	0.96	0.02	0.01	0.03	1.32	(0.99)	1.70	(2.07)	5.43
TREIX	0.08	0.02	0.07	(13.24)	0.00	(0.13)	0.20	(0.10)	0.69
PSPFX	0.86	0.04	0.02	0.08	1.20	(0.91)	1.72	(2.37)	5.25
ENPSX	1.47	0.18	0.08	0.21	2.14	(1.37)	3.17	(3.59)	8.59
FIKAX	1.00	0.09	0.06	0.14	1.53	(0.95)	1.80	(2.57)	6.59
HNRGX	0.88	0.12	0.08	0.20	1.30	(0.83)	1.80	(2.30)	5.81
ALEFX	1.00	0.12	0.08	(0.68)	1.29	(1.04)	1.96	(2.27)	6.21
VENAX	0.98	0.10	0.06	0.16	1.43	(0.92)	2.08	(2.51)	6.05

John Hancock Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with John Hancock mutual fund to make a market-neutral strategy. Peer analysis of John Hancock could also be used in its relative valuation, which is a method of valuing John Hancock by comparing valuation metrics with similar companies.

Ivy Natural Resources Thrivent Natural Resources Global Resources Fund Oil Gas Ultrasector Fidelity Advisor Energy Hennessy Bp Energy Alpsalerian Energy Infrastructure Vanguard Energy Index American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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