Correlation Between Fisher Fixed and John Hancock

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Can any of the company-specific risk be diversified away by investing in both Fisher Fixed and John Hancock at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fisher Fixed and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fisher Fixed Income and John Hancock Money, you can compare the effects of market volatilities on Fisher Fixed and John Hancock and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fisher Fixed with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fisher Fixed and John Hancock.

Diversification Opportunities for Fisher Fixed and John Hancock

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Fisher and John is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fisher Fixed Income and John Hancock Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Money and Fisher Fixed is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fisher Fixed Income are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Money has no effect on the direction of Fisher Fixed i.e., Fisher Fixed and John Hancock go up and down completely randomly.

Pair Corralation between Fisher Fixed and John Hancock

If you would invest  816.00  in Fisher Fixed Income on October 22, 2024 and sell it today you would earn a total of  43.00  from holding Fisher Fixed Income or generate 5.27% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy98.79%
ValuesDaily Returns

Fisher Fixed Income  vs.  John Hancock Money

 Performance 
       Timeline  
Fisher Fixed Income 

Risk-Adjusted Performance

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Over the last 90 days Fisher Fixed Income has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong fundamental drivers, Fisher Fixed is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
John Hancock Money 

Risk-Adjusted Performance

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Weak
 
Strong
Very Weak
Over the last 90 days John Hancock Money has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, John Hancock is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Fisher Fixed and John Hancock Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Fisher Fixed and John Hancock

The main advantage of trading using opposite Fisher Fixed and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fisher Fixed position performs unexpectedly, John Hancock can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in John Hancock will offset losses from the drop in John Hancock's long position.
The idea behind Fisher Fixed Income and John Hancock Money pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.

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