Correlation Between Tuttle Capital and John Hancock
Can any of the company-specific risk be diversified away by investing in both Tuttle Capital 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 Tuttle Capital and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tuttle Capital Management and John Hancock Exchange Traded, you can compare the effects of market volatilities on Tuttle Capital 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 Tuttle Capital with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tuttle Capital and John Hancock.
Diversification Opportunities for Tuttle Capital and John Hancock
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Tuttle and John is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Tuttle Capital Management and John Hancock Exchange Traded in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Exchange and Tuttle Capital 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 Tuttle Capital Management 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 Exchange has no effect on the direction of Tuttle Capital i.e., Tuttle Capital and John Hancock go up and down completely randomly.
Pair Corralation between Tuttle Capital and John Hancock
If you would invest 2,130 in John Hancock Exchange Traded on August 31, 2024 and sell it today you would earn a total of 8.00 from holding John Hancock Exchange Traded or generate 0.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Tuttle Capital Management vs. John Hancock Exchange Traded
Performance |
| Timeline |
| Tuttle Capital Management |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| John Hancock Exchange |
Tuttle Capital and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tuttle Capital and John Hancock
The main advantage of trading using opposite Tuttle Capital and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tuttle Capital 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.| Tuttle Capital vs. Vanguard Total Stock | Tuttle Capital vs. SPDR SP 500 | Tuttle Capital vs. iShares Core SP | Tuttle Capital vs. Vanguard Dividend Appreciation |
| John Hancock vs. iShares ESG USD | John Hancock vs. FlexShares Disciplined Duration | John Hancock vs. iShares ESG 1 5 | John Hancock vs. First Trust Emerging |
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 CEOs Directory module to screen CEOs from public companies around the world.
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