John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock Bond
JHNBX Fund  USD 13.55  0.12  0.89%   
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 -0.16 (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 against John Mutual Fund

  0.76FRBAX Regional BankPairCorr
  0.76FRBCX Regional BankPairCorr
  0.76JRBFX Regional BankPairCorr
  0.76JRGRX Regional BankPairCorr
  0.59JRETX J Hancock IiPairCorr
  0.55JRLWX Retirement Living ThroughPairCorr
  0.55JRLZX Retirement Living ThroughPairCorr
  0.55JAAFX Jhancock Multi IndexPairCorr
  0.55JAAJX Jhancock Multi IndexPairCorr
  0.55JAAKX Jhancock Multi IndexPairCorr
  0.54JQLAX Multimanager LifestylePairCorr
  0.54JRODX J Hancock IiPairCorr
  0.5JRLQX Retirement Living ThroughPairCorr
  0.5JRLUX Multi Index 2045PairCorr
  0.5JRLVX Retirement Living ThroughPairCorr
  0.46JQLGX Multimanager LifestylePairCorr
  0.32JAARX Alternative AssetPairCorr
  0.31JAAIX Alternative AssetPairCorr
  0.78JACLX John Hancock MidPairCorr
  0.78JACFX John Hancock MidPairCorr
  0.78JACEX John Hancock MidPairCorr
  0.71PZFVX Classic ValuePairCorr
  0.59JAAWX Jhancock MultimanagerPairCorr
  0.59JABDX Jhancock MultimanagerPairCorr
  0.59JABEX Jhancock MultimanagerPairCorr
  0.55JSCBX Small Cap ValuePairCorr

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
+ 0.95
TAUSX
JVLAX
+ 0.73
SVBAX
JGYAX
+ 0.6
SVBAX
JGYAX
+ 0.4
JHFIX
JGYAX
+ 0.23
TAUSX
JGYAX
+ 0.16
JVLAX
  
High negative correlations   
JVLAX
- 0.77
TAUSX
JHFIX
- 0.61
JVLAX
SVBAX
- 0.22
TAUSX
JHFIX
- 0.01
SVBAX

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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