John Hancock Correlations

Etfs . USA . 
Etf . John Hancock Multifactor
JHML Etf  USD 69.05  1.18  1.74%   
The current 90-days correlation between John Hancock Multifactor and John Hancock Multifactor is 0.96 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as John Hancock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if John Hancock Multifactor moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

John Hancock Correlation With Market

Poor diversification

The correlation between John Hancock Multifactor and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Multifactor 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 Multifactor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with John Etf

  0.99VTI Vanguard Total StockPairCorr
  0.99SPY SPDR SP 500 Aggressive PushPairCorr
  0.99IVV iShares Core SPPairCorr
  0.89VIG Vanguard DividendPairCorr
  0.99VV Vanguard Large CapPairCorr
  0.95RSP Invesco SP 500PairCorr
  0.99IWB iShares Russell 1000PairCorr
  0.98ESGU iShares ESG AwarePairCorr
  0.99DFAC Dimensional Core EquityPairCorr
  0.91SPLG SPDR Portfolio SPPairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.95QTJA Innovator ETFs TrustPairCorr
  0.97QTOC Innovator ETFs TrustPairCorr
  0.99XTOC Innovator ETFs TrustPairCorr
  0.79QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.97XTJA Innovator ETFs TrustPairCorr
  0.61XTAP Innovator Equity AccPairCorr
  0.83JPM JPMorgan ChasePairCorr
  0.9HD Home DepotPairCorr
  0.91AXP American ExpressPairCorr
  0.62CAT CaterpillarPairCorr
  0.77DIS Walt DisneyPairCorr
  0.89BAC Bank of America Aggressive PushPairCorr
  0.61MSFT Microsoft Aggressive PushPairCorr

Moving against John Etf

  0.49VZ Verizon CommunicationsPairCorr
  0.38JNJ Johnson Johnson Sell-off TrendPairCorr
  0.36KO Coca ColaPairCorr

Related Correlations Analysis

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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   
LRGF
+ 0.93
JHMM
QUS
+ 0.91
JPUS
LRGF
+ 0.82
JPUS
QUS
+ 0.81
LRGF
JPUS
+ 0.8
JHMM
QUS
+ 0.66
JHMM
  
High negative correlations   
JHMD
- 0.45
JHMM
JHMD
- 0.28
LRGF

John Hancock Constituents Risk-Adjusted Indicators

There is a big difference between John Etf performing well and John Hancock ETF 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.

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