John Hancock Correlations

Etfs . USA . 
Etf . John Hancock Multifactor
JHMM Etf  USD 58.53  0.14  0.24%   
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 0.78 (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

  0.97VO Vanguard Mid CapPairCorr
  0.98VXF Vanguard Extended MarketPairCorr
  0.99IJH iShares Core SPPairCorr
  0.99IWR iShares Russell Mid Sell-off TrendPairCorr
  0.99MDY SPDR SP MIDCAPPairCorr
  0.98FV First Trust DorseyPairCorr
  0.99IVOO Vanguard SP MidPairCorr
  1.0BBMC JPMorgan BetaBuilders MidPairCorr
  0.98XMMO Invesco SP MidCapPairCorr
  0.77WGMI Valkyrie Bitcoin MinersPairCorr
  0.68BA BoeingPairCorr
  0.7MSFT Microsoft Aggressive PushPairCorr
  0.77HPQ HP IncPairCorr
  0.93HD Home DepotPairCorr
  0.75DIS Walt DisneyPairCorr
  0.9BAC Bank of America Aggressive PushPairCorr
  0.76CAT CaterpillarPairCorr
  0.73WMT WalmartPairCorr
  0.62AA Alcoa CorpPairCorr
  0.72JPM JPMorgan ChasePairCorr

Moving against John Etf

  0.6PMBS PIMCO Mortgage BackedPairCorr
  0.54FXY Invesco CurrencySharesPairCorr
  0.46AMPD Tidal Trust IIPairCorr
  0.34GDXU MicroSectors Gold MinersPairCorr
  0.61TRV The Travelers CompaniesPairCorr
  0.53JNJ Johnson JohnsonPairCorr
  0.53KO Coca Cola Sell-off TrendPairCorr
  0.5MCD McDonaldsPairCorr
  0.45T ATT Inc Aggressive PushPairCorr

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
+ 0.99
JHML
JPSE
+ 0.86
JHML
JPUS
+ 0.85
JHML
LRGF
+ 0.83
JPSE
LRGF
+ 0.82
JPUS
JPSE
+ 0.59
JPUS
  
High negative correlations   
JPSE
- 0.69
JPIN
JPIN
- 0.33
JHML
LRGF
- 0.3
JPIN

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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