Correlation Between John Hancock and Mfs Emerging
Can any of the company-specific risk be diversified away by investing in both John Hancock and Mfs Emerging 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 Mfs Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Money and Mfs Emerging Markets, you can compare the effects of market volatilities on John Hancock and Mfs Emerging 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 Mfs Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Mfs Emerging.
Diversification Opportunities for John Hancock and Mfs Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between John and Mfs is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Money and Mfs Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mfs Emerging Markets 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 Money are associated (or correlated) with Mfs Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mfs Emerging Markets has no effect on the direction of John Hancock i.e., John Hancock and Mfs Emerging go up and down completely randomly.
Pair Corralation between John Hancock and Mfs Emerging
If you would invest 100.00 in John Hancock Money on September 4, 2024 and sell it today you would earn a total of 0.00 from holding John Hancock Money or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
John Hancock Money vs. Mfs Emerging Markets
Performance |
| Timeline |
| John Hancock Money |
| Mfs Emerging Markets |
John Hancock and Mfs Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Mfs Emerging
The main advantage of trading using opposite John Hancock and Mfs Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Mfs Emerging 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 Mfs Emerging will offset losses from the drop in Mfs Emerging's long position.| John Hancock vs. Vanguard Total Stock | John Hancock vs. Vanguard 500 Index | John Hancock vs. Vanguard Total Stock | John Hancock vs. Vanguard Total Stock |
| Mfs Emerging vs. Mfs Prudent Investor | Mfs Emerging vs. Mfs Prudent Investor | Mfs Emerging vs. Mfs Prudent Investor | Mfs Emerging vs. Mfs Prudent Investor |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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