John Hancock Correlations

JYHIX Fund

USD 3.06 0.01 0.33%

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

Significant diversification

The correlation between John Hancock Focused and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Focused 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 Focused. 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 gross domestic product.

Moving together with John Mutual Fund

0.81	JQLMX	Multimanager Lifestyle	Pair Corr
0.87	JRLFX	Multi Index 2010	Pair Corr
0.85	JRLIX	Retirement Living Through	Pair Corr
0.85	JRLKX	Multi Index 2015	Pair Corr
0.66	JRLQX	Retirement Living Through	Pair Corr
0.82	JRLPX	Multi Index 2020	Pair Corr
0.65	JRLUX	Multi Index 2045	Pair Corr
0.62	JRLWX	Retirement Living Through	Pair Corr
0.86	JAAIX	Alternative Asset	Pair Corr
0.87	JAARX	Alternative Asset	Pair Corr
0.8	JRTDX	Multi Index 2025	Pair Corr
0.77	JRTGX	Retirement Living Through	Pair Corr
0.88	JAASX	Alternative Asset	Pair Corr
0.75	JRTIX	Multi Index 2030	Pair Corr
0.73	JRTMX	Multi Index 2035	Pair Corr
0.69	JRTVX	Multi Index 2040	Pair Corr
0.87	JAAAX	Alternative Asset	Pair Corr
0.87	JAACX	Alternative Asset	Pair Corr
0.62	JRTYX	Multi Index 2050	Pair Corr
0.81	JABKX	John Hancock Funds	Pair Corr
0.89	JALRX	Multimanager Lifestyle	Pair Corr
0.85	JSNIX	Jhancock Short Duration	Pair Corr
0.88	JSNCX	Jhancock Short Duration	Pair Corr
0.87	JSTIX	John Hancock Income	Pair Corr

Related Correlations Analysis

	GPOXX	VFAIX	DVFYX	PGFMX	FIKBX	ICFAX	PSSRX
GPOXX		0.0	0.0	0.0	0.0	0.0	0.0	GPOXX
VFAIX	0.0		0.94	0.72	0.69	0.45	0.58	VFAIX
DVFYX	0.0	0.94		0.84	0.76	0.52	0.69	DVFYX
PGFMX	0.0	0.72	0.84		0.85	0.41	0.74	PGFMX
FIKBX	0.0	0.69	0.76	0.85		0.6	0.92	FIKBX
ICFAX	0.0	0.45	0.52	0.41	0.6		0.67	ICFAX
PSSRX	0.0	0.58	0.69	0.74	0.92	0.67		PSSRX
	GPOXX	VFAIX	DVFYX	PGFMX	FIKBX	ICFAX	PSSRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DVFYX	+ 0.94	VFAIX
PSSRX	+ 0.92	FIKBX
FIKBX	+ 0.85	PGFMX
PGFMX	+ 0.84	DVFYX
FIKBX	+ 0.76	DVFYX
PSSRX	+ 0.74	PGFMX

High negative correlations

PSSRX	- 0.0	GPOXX
ICFAX	- 0.0	GPOXX
FIKBX	- 0.0	GPOXX
PGFMX	- 0.0	GPOXX
DVFYX	- 0.0	GPOXX
VFAIX	- 0.0	GPOXX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GPOXX	0.00	0.00	0.00	0.00	0.00	0.00
VFAIX	0.75	0.00	(0.09)	1.44	(1.79)	6.10
DVFYX	0.80	0.00	(0.09)	1.42	(2.39)	6.05
PGFMX	0.35	(0.03)	0.11	0.78	(0.66)	2.47
FIKBX	0.77	(0.15)	0.54	1.16	(1.95)	6.29
ICFAX	0.93	(0.24)	(0.40)	1.12	(2.10)	14.48
PSSRX	0.87	(0.13)	(0.23)	1.22	(2.57)	6.03

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC