John Hancock Correlations

JLCNX Fund

USD 70.16 0.32 0.46%

The current 90-days correlation between John Hancock Investment and Flakqx is 0.12 (i.e., Average 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 Investment and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Investment 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 Investment. 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 board of governors.

Moving together with John Mutual Fund

0.85	VTSAX	Vanguard Total Stock	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.85	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.85	VSTSX	Vanguard Total Stock	Pair Corr
0.85	VSMPX	Vanguard Total Stock	Pair Corr
0.83	VFINX	Vanguard 500 Index	Pair Corr
0.83	VFFSX	Vanguard 500 Index	Pair Corr
0.9	GCAVX	Gmo Small Cap	Pair Corr
0.91	GMCQX	Gmo Equity Allocation	Pair Corr
0.72	DIS	Walt Disney	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.94	AXP	American Express	Pair Corr
0.63	MSFT	Microsoft Aggressive Push	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.66	WMT	Walmart	Pair Corr

Moving against John Mutual Fund

0.83	GAAVX	Gmo Alternative Allo	Pair Corr
0.64	GABFX	Gmo Asset Allocation	Pair Corr
0.48	VTIAX	Vanguard Total Inter	Pair Corr
0.47	VGTSX	Vanguard Total Inter	Pair Corr
0.67	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.51	JNJ	Johnson Johnson	Pair Corr
0.43	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	FLAKQX	TBLDX	PRVBX	RTIUX	BXECX	JTSQX	WABMSX	FUHKBX
FLAKQX		0.83	0.11	0.27	0.2	0.89	0.81	0.37	FLAKQX
TBLDX	0.83		0.47	0.59	0.53	0.89	0.81	0.31	TBLDX
PRVBX	0.11	0.47		0.89	0.95	0.09	0.11	-0.4	PRVBX
RTIUX	0.27	0.59	0.89		0.94	0.26	0.34	-0.35	RTIUX
BXECX	0.2	0.53	0.95	0.94		0.16	0.18	-0.38	BXECX
JTSQX	0.89	0.89	0.09	0.26	0.16		0.89	0.53	JTSQX
WABMSX	0.81	0.81	0.11	0.34	0.18	0.89		0.48	WABMSX
FUHKBX	0.37	0.31	-0.4	-0.35	-0.38	0.53	0.48		FUHKBX
	FLAKQX	TBLDX	PRVBX	RTIUX	BXECX	JTSQX	WABMSX	FUHKBX

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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

BXECX	+ 0.95	PRVBX
BXECX	+ 0.94	RTIUX
JTSQX	+ 0.89	FLAKQX
JTSQX	+ 0.89	TBLDX
RTIUX	+ 0.89	PRVBX
WABMSX	+ 0.89	JTSQX

High negative correlations

FUHKBX	- 0.4	PRVBX
FUHKBX	- 0.38	BXECX
FUHKBX	- 0.35	RTIUX

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
FLAKQX	0.84	0.01	0.01	0.10	1.11	(0.93)	1.75	(2.40)	4.80
TBLDX	0.38	(0.01)	0.00	0.08	0.00	0.00	0.70	(0.80)	2.12
PRVBX	0.10	0.01	0.06	(0.46)	0.00	(0.13)	0.23	(0.17)	0.53
RTIUX	0.60	0.09	0.09	0.17	0.73	(0.65)	1.47	(1.45)	5.02
BXECX	0.19	0.04	0.12	(0.45)	0.00	(0.32)	0.55	(0.27)	1.21
JTSQX	0.64	(0.01)	(0.01)	0.07	0.86	(0.62)	1.40	(1.34)	3.69
WABMSX	0.61	0.03	0.03	0.04	0.78	(0.63)	1.38	(1.29)	3.66
FUHKBX	0.70	(0.01)	0.00	0.12	0.00	0.00	1.36	(1.76)	4.79

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