John Hancock Correlations

JHNBX Fund

USD 13.48 0.01 0.07%

The current 90-days correlation between John Hancock Bond and John Hancock Investment is -0.02 (i.e., Good 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 Bond and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Bond 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 Bond. 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 labor statistics.

Moving together with John Mutual Fund

0.65	JQLCX	Multimanager Lifestyle	Pair Corr
0.67	JRLDX	Retirement Living Through	Pair Corr
0.62	JRLFX	Multi Index 2010	Pair Corr
0.68	JRLHX	Retirement Living Through	Pair Corr

Moving against John Mutual Fund

0.57	FRBAX	Regional Bank	Pair Corr
0.57	FRBCX	Regional Bank	Pair Corr
0.57	JRBFX	Regional Bank	Pair Corr
0.57	JRGRX	Regional Bank	Pair Corr
0.42	JRETX	J Hancock Ii	Pair Corr
0.34	JQLAX	Multimanager Lifestyle	Pair Corr
0.39	JROUX	J Hancock Ii	Pair Corr
0.39	JAAKX	Jhancock Multi Index	Pair Corr
0.38	JAAJX	Jhancock Multi Index	Pair Corr
0.35	JRLWX	Retirement Living Through	Pair Corr
0.35	JRLZX	Retirement Living Through	Pair Corr
0.35	JRODX	J Hancock Ii	Pair Corr
0.35	JAAFX	Jhancock Multi Index	Pair Corr
0.41	JABBX	Jhancock Multimanager	Pair Corr
0.39	JAAVX	Jhancock Multimanager	Pair Corr
0.39	JAAWX	Jhancock Multimanager	Pair Corr
0.39	JAAZX	Jhancock Multimanager	Pair Corr
0.39	JABDX	Jhancock Multimanager	Pair Corr
0.39	JABEX	Jhancock Multimanager	Pair Corr

Related Correlations Analysis

	TAUSX	JVLAX	JGYAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
TAUSX		-0.63	0.53	0.0	-0.03	0.08	-0.42	0.24	-0.35	-0.75	TAUSX
JVLAX	-0.63		-0.19	0.0	0.4	0.53	0.66	0.42	0.65	0.8	JVLAX
JGYAX	0.53	-0.19		0.0	0.38	-0.07	-0.49	0.25	-0.39	-0.57	JGYAX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	-0.03	0.4	0.38	0.0		0.55	-0.03	0.73	0.13	0.15	MSTSX
LBHIX	0.08	0.53	-0.07	0.0	0.55		0.51	0.8	0.59	0.4	LBHIX
VIASP	-0.42	0.66	-0.49	0.0	-0.03	0.51		0.35	0.88	0.72	VIASP
RRTLX	0.24	0.42	0.25	0.0	0.73	0.8	0.35		0.47	0.21	RRTLX
OSHDF	-0.35	0.65	-0.39	0.0	0.13	0.59	0.88	0.47		0.65	OSHDF
70082LAB3	-0.75	0.8	-0.57	0.0	0.15	0.4	0.72	0.21	0.65		70082LAB3
	TAUSX	JVLAX	JGYAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

OSHDF	+ 0.88	VIASP
70082LAB3	+ 0.8	JVLAX
RRTLX	+ 0.8	LBHIX
RRTLX	+ 0.73	MSTSX
70082LAB3	+ 0.72	VIASP
VIASP	+ 0.66	JVLAX

High negative correlations

70082LAB3	- 0.75	TAUSX
JVLAX	- 0.63	TAUSX
70082LAB3	- 0.57	JGYAX
VIASP	- 0.49	JGYAX
VIASP	- 0.42	TAUSX
OSHDF	- 0.39	JGYAX

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
TAUSX	0.26	(0.06)	0.00	(0.55)	0.00	0.00	0.56	(0.55)	1.33
JVLAX	0.53	(0.01)	(0.03)	0.06	0.41	(0.69)	1.18	(0.89)	5.09
JGYAX	0.40	(0.06)	0.00	(0.04)	0.00	0.00	0.80	(0.72)	1.93
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	0.04	(0.07)	1.56	0.43	(0.58)	1.21	(0.84)	2.80
LBHIX	0.10	0.00	(0.29)	0.08	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.75	0.13	0.04	(2.07)	1.06	(0.84)	2.28	(1.20)	7.18
RRTLX	0.22	0.01	(0.22)	0.20	0.21	(0.25)	0.48	(0.47)	1.36
OSHDF	39.65	21.76	0.00	(0.92)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.66	0.08	0.00	1.35	0.95	(0.79)	1.75	(0.78)	6.86

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