Correlation Between Jhancock Diversified and John Hancock
Can any of the company-specific risk be diversified away by investing in both Jhancock Diversified 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 Jhancock Diversified and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Diversified Macro and John Hancock Global, you can compare the effects of market volatilities on Jhancock Diversified 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 Jhancock Diversified with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Diversified and John Hancock.
Diversification Opportunities for Jhancock Diversified and John Hancock
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jhancock and John is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Diversified Macro and John Hancock Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Global and Jhancock Diversified 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 Jhancock Diversified Macro 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 Global has no effect on the direction of Jhancock Diversified i.e., Jhancock Diversified and John Hancock go up and down completely randomly.
Pair Corralation between Jhancock Diversified and John Hancock
If you would invest 912.00 in Jhancock Diversified Macro on November 3, 2024 and sell it today you would earn a total of 7.00 from holding Jhancock Diversified Macro or generate 0.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Jhancock Diversified Macro vs. John Hancock Global
Performance |
| Timeline |
| Jhancock Diversified |
| John Hancock Global |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Jhancock Diversified and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Diversified and John Hancock
The main advantage of trading using opposite Jhancock Diversified and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Diversified 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.| Jhancock Diversified vs. Vy Jpmorgan Emerging | Jhancock Diversified vs. Morgan Stanley Emerging | Jhancock Diversified vs. Mid Cap 15x Strategy | Jhancock Diversified vs. Siit Emerging Markets |
| John Hancock vs. Ashmore Emerging Markets | John Hancock vs. Eagle Mlp Strategy | John Hancock vs. Franklin Emerging Market | John Hancock vs. Rbc Emerging Markets |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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