Correlation Between Bbh Intermediate and John Hancock
Can any of the company-specific risk be diversified away by investing in both Bbh Intermediate 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 Bbh Intermediate and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bbh Intermediate Municipal and John Hancock Money, you can compare the effects of market volatilities on Bbh Intermediate 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 Bbh Intermediate with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bbh Intermediate and John Hancock.
Diversification Opportunities for Bbh Intermediate and John Hancock
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bbh and John is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bbh Intermediate Municipal 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 Bbh Intermediate 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 Bbh Intermediate Municipal 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 Bbh Intermediate i.e., Bbh Intermediate and John Hancock go up and down completely randomly.
Pair Corralation between Bbh Intermediate and John Hancock
If you would invest 1,023 in Bbh Intermediate Municipal on November 27, 2024 and sell it today you would earn a total of 6.00 from holding Bbh Intermediate Municipal or generate 0.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bbh Intermediate Municipal vs. John Hancock Money
Performance |
| Timeline |
| Bbh Intermediate Mun |
| John Hancock Money |
Bbh Intermediate and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bbh Intermediate and John Hancock
The main advantage of trading using opposite Bbh Intermediate and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bbh Intermediate 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.| Bbh Intermediate vs. Federated Government Income | Bbh Intermediate vs. Credit Suisse Multialternative | Bbh Intermediate vs. Small Pany Growth | Bbh Intermediate vs. Tfa Alphagen Growth |
| John Hancock vs. Franklin Small Cap | John Hancock vs. Old Westbury Small | John Hancock vs. Vulcan Value Partners | John Hancock vs. Legg Mason Partners |
Check out your portfolio center.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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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