John Hancock Correlations

JHMU Etf

USD 26.58 0.01 0.04%

The current 90-days correlation between John Hancock Exchange and SSGA Active Trust is -0.19 (i.e., Good 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

Very good diversification

The correlation between John Hancock Exchange Traded and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Exchange Traded 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 Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with John Etf

0.66	JXI	iShares Global Utilities	Pair Corr
0.84	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against John Etf

0.44	TBT	ProShares UltraShort	Pair Corr
0.42	YCS	ProShares UltraShort Yen	Pair Corr
0.41	SGG	Barclays Capital	Pair Corr
0.32	USD	ProShares Ultra Semi	Pair Corr
0.37	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	MBNE	MBND	CA	MEAR	MFLX	MINN	MINO	MMCA	MMIN
MBNE		0.88	0.81	-0.29	0.51	0.91	0.73	0.86	0.82	MBNE
MBND	0.88		0.94	-0.07	0.58	0.96	0.92	0.98	0.97	MBND
CA	0.81	0.94		0.13	0.55	0.87	0.94	0.94	0.95	CA
MEAR	-0.29	-0.07	0.13		-0.01	-0.21	0.19	-0.08	0.02	MEAR
MFLX	0.51	0.58	0.55	-0.01		0.55	0.59	0.57	0.56	MFLX
MINN	0.91	0.96	0.87	-0.21	0.55		0.85	0.95	0.93	MINN
MINO	0.73	0.92	0.94	0.19	0.59	0.85		0.91	0.94	MINO
MMCA	0.86	0.98	0.94	-0.08	0.57	0.95	0.91		0.97	MMCA
MMIN	0.82	0.97	0.95	0.02	0.56	0.93	0.94	0.97		MMIN
	MBNE	MBND	CA	MEAR	MFLX	MINN	MINO	MMCA	MMIN

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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

MMCA	+ 0.98	MBND
MMIN	+ 0.97	MBND
MMIN	+ 0.97	MMCA
MINN	+ 0.96	MBND
MMIN	+ 0.95	CA
MMCA	+ 0.95	MINN

High negative correlations

MEAR	- 0.29	MBNE
MINN	- 0.21	MEAR
MMCA	- 0.08	MEAR
MEAR	- 0.07	MBND
MFLX	- 0.01	MEAR

John Hancock Constituents 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
MBNE	0.13	(0.02)	(0.62)	(0.17)	0.18	(0.15)	0.30	(0.27)	0.98
MBND	0.14	0.01	(0.47)	0.05	0.20	(0.17)	0.39	(0.29)	1.49
CA	0.17	0.01	(0.35)	(0.07)	0.28	(0.16)	0.40	(0.44)	1.36
MEAR	0.05	0.00	(1.84)	(0.05)	0.00	(0.06)	0.10	(0.08)	0.32
MFLX	0.42	0.03	(0.11)	(0.01)	0.96	(0.43)	0.69	(0.98)	6.55
MINN	0.20	(0.01)	0.00	0.32	0.00	0.00	0.41	(0.45)	1.17
MINO	0.20	0.01	(0.32)	0.01	0.34	(0.18)	0.36	(0.50)	1.52
MMCA	0.13	0.00	(0.38)	0.06	0.22	(0.14)	0.28	(0.32)	1.26
MMIN	0.22	0.01	(0.36)	0.02	0.31	(0.28)	0.50	(0.29)	1.99

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