John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock Bond
JHNBX Fund  USD 13.47  0.06  0.44%   
The current 90-days correlation between John Hancock Bond and John Hancock Investment is 0.98 (i.e., Almost no 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 Bond 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 Bond 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 Bond. 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 bureau of labor statistics.

Moving together with John Mutual Fund

  0.66JQLCX Multimanager LifestylePairCorr
  0.61JRLFX Multi Index 2010PairCorr
  0.61JRLHX Retirement Living ThroughPairCorr

Moving against John Mutual Fund

  0.58FRBAX Regional BankPairCorr
  0.58FRBCX Regional BankPairCorr
  0.58JRBFX Regional BankPairCorr
  0.58JRGRX Regional BankPairCorr
  0.46JRETX J Hancock IiPairCorr
  0.4JQLAX Multimanager LifestylePairCorr
  0.44JROUX J Hancock IiPairCorr
  0.44JAAJX Jhancock Multi IndexPairCorr
  0.44JAAKX Jhancock Multi IndexPairCorr
  0.43JRLZX Retirement Living ThroughPairCorr
  0.43JAAFX Jhancock Multi IndexPairCorr
  0.4JRLWX Retirement Living ThroughPairCorr
  0.4JRODX J Hancock IiPairCorr
  0.38JRLVX Retirement Living ThroughPairCorr
  0.35JRLQX Retirement Living ThroughPairCorr
  0.34JRLUX Multi Index 2045PairCorr
  0.46JAAVX Jhancock MultimanagerPairCorr
  0.46JAAWX Jhancock MultimanagerPairCorr
  0.46JABBX Jhancock MultimanagerPairCorr
  0.44JAAZX Jhancock MultimanagerPairCorr
  0.44JABDX Jhancock MultimanagerPairCorr
  0.44JABEX Jhancock MultimanagerPairCorr

Related Correlations Analysis

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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   
JHFIX
+ 0.98
TAUSX
JVLAX
+ 0.63
SVBAX
JGYAX
+ 0.49
JHFIX
JGYAX
+ 0.45
TAUSX
JGYAX
+ 0.17
SVBAX
JHFIX
+ 0.05
SVBAX
  
High negative correlations   
JVLAX
- 0.64
TAUSX
JHFIX
- 0.59
JVLAX
JGYAX
- 0.09
JVLAX

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.

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