John Hancock Correlations

HPI Etf

USD 17.21 0.09 0.53%

The current 90-days correlation between John Hancock Preferred and John Hancock Preferred is 0.71 (i.e., Poor 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.

John Hancock Correlation With Market

Modest diversification

The correlation between John Hancock Preferred and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Preferred 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 Preferred. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with John Etf

0.63

MDEV

First Trust Exchange Low Volatility

Pair Corr

Moving against John Etf

0.65	MAGS	Roundhill Magnificent Sell-off Trend	Pair Corr
0.56	ENTR	ERShares Entrepreneurs Symbol Change	Pair Corr
0.48	BIL	SPDR Bloomberg 1	Pair Corr
0.46	OBIL	US Treasury 12	Pair Corr
0.42	JMST	JPMorgan Ultra Short	Pair Corr
0.35	XMAR	First Trust Exchange	Pair Corr
0.46	BTC	Grayscale Bitcoin Mini	Pair Corr
0.44	ETH	Grayscale Ethereum Mini	Pair Corr
0.43	LALT	Invesco Multi Strategy	Pair Corr
0.41	IWF	iShares Russell 1000	Pair Corr
0.4	APRD	Innovator Etfs Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.44	0.58	0.51	0.5	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.22	0.48	0.27	0.6	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.5	-0.3	0.28	-0.71	-0.25	0.31	0.78	UBER
F	-0.44	-0.22	0.5		0.15	-0.3	0.01	0.08	-0.09	0.84	F
T	0.58	0.48	-0.3	0.15		0.11	0.67	0.59	-0.17	-0.17	T
A	0.51	0.27	0.28	-0.3	0.11		-0.27	0.23	0.26	-0.16	A
CRM	0.5	0.6	-0.71	0.01	0.67	-0.27		0.5	-0.29	-0.41	CRM
JPM	0.62	0.3	-0.25	0.08	0.59	0.23	0.5		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	-0.09	-0.17	0.26	-0.29	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.84	-0.17	-0.16	-0.41	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.84	F
XOM	+ 0.78	UBER
CRM	+ 0.67	T
MSFT	+ 0.62	META
JPM	+ 0.62	META
CRM	+ 0.6	MSFT

High negative correlations

CRM	- 0.71	UBER
XOM	- 0.63	META
MRK	- 0.55	JPM
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT
F	- 0.44	META

John Hancock Competition Risk-Adjusted Indicators

There is a big difference between John Etf performing well and John Hancock ETF 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.35	(0.04)	(0.04)	0.03	1.75	(1.43)	2.46	(2.89)	9.39
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.18	0.12	0.06	0.32	1.14	(1.39)	2.81	(2.16)	5.70
CRM	1.51	0.34	0.15	2.71	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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