Correlation Between John Hancock and International Real
Can any of the company-specific risk be diversified away by investing in both John Hancock and International Real 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 John Hancock and International Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Variable and International Real Estate, you can compare the effects of market volatilities on John Hancock and International Real 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 John Hancock with a short position of International Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and International Real.
Diversification Opportunities for John Hancock and International Real
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between John and International is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Variable and International Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Real Estate and John Hancock 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 John Hancock Variable are associated (or correlated) with International Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Real Estate has no effect on the direction of John Hancock i.e., John Hancock and International Real go up and down completely randomly.
Pair Corralation between John Hancock and International Real
If you would invest 1,843 in John Hancock Variable on September 1, 2024 and sell it today you would earn a total of 383.00 from holding John Hancock Variable or generate 20.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
John Hancock Variable vs. International Real Estate
Performance |
| Timeline |
| John Hancock Variable |
| International Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
John Hancock and International Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and International Real
The main advantage of trading using opposite John Hancock and International Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, International Real 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 International Real will offset losses from the drop in International Real's long position.| John Hancock vs. Pace Municipal Fixed | John Hancock vs. T Rowe Price | John Hancock vs. Old Westbury Municipal | John Hancock vs. T Rowe Price |
| International Real vs. Chase Growth Fund | International Real vs. Artisan Small Cap | International Real vs. Champlain Mid Cap | International Real vs. L Abbett Growth |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |