Correlation Between Wt Mutual and John Hancock
Can any of the company-specific risk be diversified away by investing in both Wt Mutual 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 Wt Mutual and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Wt Mutual Fund and John Hancock Government, you can compare the effects of market volatilities on Wt Mutual 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 Wt Mutual with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wt Mutual and John Hancock.
Diversification Opportunities for Wt Mutual and John Hancock
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between WGSXX and John is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Wt Mutual Fund and John Hancock Government in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Government and Wt Mutual 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 Wt Mutual Fund 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 Government has no effect on the direction of Wt Mutual i.e., Wt Mutual and John Hancock go up and down completely randomly.
Pair Corralation between Wt Mutual and John Hancock
If you would invest 100.00 in Wt Mutual Fund on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Wt Mutual Fund or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wt Mutual Fund vs. John Hancock Government
Performance |
| Timeline |
| Wt Mutual Fund |
| John Hancock Government |
Wt Mutual and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wt Mutual and John Hancock
The main advantage of trading using opposite Wt Mutual and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wt Mutual 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.| Wt Mutual vs. Vanguard Total Stock | Wt Mutual vs. Vanguard 500 Index | Wt Mutual vs. Vanguard Total Stock | Wt Mutual vs. Vanguard Total Stock |
| John Hancock vs. First American Funds | John Hancock vs. Wt Mutual Fund | John Hancock vs. Transamerica Funds | John Hancock vs. Hsbc Treasury Money |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |