Correlation Between John Hancock and Versatile Bond
Can any of the company-specific risk be diversified away by investing in both John Hancock and Versatile Bond 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 Versatile Bond 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 Versatile Bond Portfolio, you can compare the effects of market volatilities on John Hancock and Versatile Bond 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 Versatile Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Versatile Bond.
Diversification Opportunities for John Hancock and Versatile Bond
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between John and Versatile is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Money and Versatile Bond Portfolio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Versatile Bond Portfolio 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 Versatile Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Versatile Bond Portfolio has no effect on the direction of John Hancock i.e., John Hancock and Versatile Bond go up and down completely randomly.
Pair Corralation between John Hancock and Versatile Bond
If you would invest 6,113 in Versatile Bond Portfolio on September 1, 2024 and sell it today you would earn a total of 540.00 from holding Versatile Bond Portfolio or generate 8.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Money vs. Versatile Bond Portfolio
Performance |
| Timeline |
| John Hancock Money |
| Versatile Bond Portfolio |
John Hancock and Versatile Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Versatile Bond
The main advantage of trading using opposite John Hancock and Versatile Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Versatile Bond 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 Versatile Bond will offset losses from the drop in Versatile Bond's long position.| John Hancock vs. Pioneer Diversified High | John Hancock vs. Blackrock Conservative Prprdptfinstttnl | John Hancock vs. Jhancock Diversified Macro | John Hancock vs. Pgim Conservative Retirement |
| Versatile Bond vs. Short Term Treasury Portfolio | Versatile Bond vs. Aggressive Growth Portfolio | Versatile Bond vs. Permanent Portfolio Class | Versatile Bond vs. Thompson Bond Fund |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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