John Hancock Correlations

JVLCX Fund  USD 21.08  0.41  1.98%   
The current 90-days correlation between John Hancock Disciplined and Regional Bank Fund is 0.02 (i.e., Significant 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

Weak diversification

The correlation between John Hancock Disciplined and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Disciplined 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 Disciplined. 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 main economic indicators.

Moving together with John Mutual Fund

  0.94FIDAX Financial IndustriesPairCorr
  0.63AMFFX American MutualPairCorr

Moving against John Mutual Fund

  0.55QDARX Aqr Diversified ArbitragePairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FRBAX  1.23 (0.36) 0.00 (3.36) 0.00 
 1.88 
 6.76 
FRBCX  1.21 (0.33) 0.00 (3.21) 0.00 
 1.86 
 6.76 
JQLMX  0.31 (0.02) 0.00 (0.37) 0.00 
 0.64 
 1.79 
JQLBX  0.45 (0.04) 0.00 (0.61) 0.00 
 0.81 
 2.62 
JQLAX  0.74 (0.12) 0.00 (1.73) 0.00 
 1.16 
 4.02 
JQLCX  0.19  0.00  0.00 (0.16) 0.00 
 0.42 
 1.11 
JQLGX  0.59 (0.06) 0.00 (0.82) 0.00 
 1.06 
 3.36 
JRBFX  1.19 (0.32) 0.00 (2.75) 0.00 
 1.84 
 6.73 
JRETX  0.70 (0.02) 0.00 (0.14) 0.00 
 1.15 
 4.09 
JRGRX  1.20 (0.32) 0.00 (2.85) 0.00 
 1.84 
 6.77