John Hancock Correlations

Etfs . USA . 
Etf . John Hancock Preferred
JHPI Etf  USD 22.69  0.02  0.09%   
The current 90-days correlation between John Hancock Preferred and American Century ETF is 0.73 (i.e., Poor 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.

John Hancock Correlation With Market

Significant diversification

The correlation between John Hancock Preferred and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Preferred 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 Preferred. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with John Etf

  0.74PFF iShares PreferredPairCorr
  0.81FPE First Trust PreferredPairCorr
  0.9PGX Invesco Preferred ETF Sell-off TrendPairCorr
  0.63PFFD Global X PreferredPairCorr
  0.76VRP Invesco Variable RatePairCorr
  0.93PGF Invesco FinancialPairCorr
  0.89PSK SPDR ICE PreferredPairCorr
  0.79FPEI First Trust InstitutionalPairCorr
  0.76PFFA Virtus InfraCap PreferredPairCorr
  0.61DUKH Ocean Park HighPairCorr
  0.65SMI VanEck Vectors ETFPairCorr
  0.63JNJ Johnson Johnson Sell-off TrendPairCorr
  0.63IBM International BusinessPairCorr
  0.7T ATT Inc Sell-off TrendPairCorr

Moving against John Etf

  0.51AA Alcoa CorpPairCorr
  0.32CAT CaterpillarPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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