Jhancock New Correlations

Mutual Funds . USA . 
Fund . Jhancock New Opportunities
JWSOX Fund  USD 27.13  1.06  3.76%   
The current 90-days correlation between Jhancock New Opportu and Regional Bank Fund is 0.82 (i.e., Very poor diversification). The correlation of Jhancock New 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.

Jhancock New Correlation With Market

Average diversification

The correlation between Jhancock New Opportunities and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock New Opportunities 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 Jhancock New Opportunities. 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 persons.

Moving together with Jhancock Mutual Fund

  0.95FRBAX Regional Bank Downward RallyPairCorr
  0.95FRBCX Regional Bank Downward RallyPairCorr
  0.72JQLBX Multimanager LifestylePairCorr
  0.89JQLAX Multimanager LifestylePairCorr
  0.8JQLGX Multimanager LifestylePairCorr
  0.95JRBFX Regional Bank Downward RallyPairCorr
  0.89JRETX J Hancock IiPairCorr
  0.95JRGRX Regional Bank Downward RallyPairCorr
  0.81JRLQX Retirement Living ThroughPairCorr
  0.81JRLUX Multi Index 2045PairCorr
  0.83JRLWX Retirement Living ThroughPairCorr
  0.81JRLVX Retirement Living ThroughPairCorr
  0.83JRLZX Retirement Living ThroughPairCorr
  0.85JROUX J Hancock IiPairCorr
  0.83JRODX J Hancock IiPairCorr
  0.86JAAFX Jhancock Multi IndexPairCorr
  0.86JAAJX Jhancock Multi IndexPairCorr
  0.75JAAIX Alternative AssetPairCorr
  0.86JAAKX Jhancock Multi IndexPairCorr
  0.73JAAPX Alternative AssetPairCorr
  0.75JAARX Alternative AssetPairCorr
  0.63JRTGX Retirement Living ThroughPairCorr
  0.76JAASX Alternative AssetPairCorr
  0.63JRTIX Multi Index 2030PairCorr
  0.86JAAVX Jhancock MultimanagerPairCorr
  0.71JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Jhancock Mutual Fund performing well and Jhancock New 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 Jhancock New'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  1.19  0.20  0.15  1.50  1.05 
(1.51)
 2.76 
(1.91)
 15.75 
FRBCX  1.19  0.20  0.15  1.53  1.05 
(1.51)
 2.74 
(1.90)
 15.70 
JQLMX  0.25 (0.03) 0.00 (0.09) 0.00 
 0.00 
 0.56 
(0.56)
 1.43 
JQLBX  0.34 (0.03) 0.00 (0.04) 0.00 
 0.00 
 0.66 
(0.65)
 2.06 
JQLAX  0.46  0.04  0.04  0.44  0.49 
(0.51)
 1.07 
(0.91)
 3.11 
JQLCX  0.17 (0.03) 0.00 (0.17) 0.00 
 0.00 
 0.34 
(0.34)
 1.00 
JQLGX  0.43 (0.02) 0.00 (0.02) 0.00 
 0.00 
 0.90 
(0.76)
 2.65 
JRETX  0.46  0.05  0.06  0.67  0.43 
(0.56)
 1.07 
(0.83)
 3.08 
JRGRX  1.19  0.20  0.15  1.48  1.05 
(1.51)
 2.76 
(1.91)
 15.70 
JRLDX  0.20 (0.04) 0.00 (0.16) 0.00 
 0.00 
 0.48 
(0.39)
 1.16 

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