John Hancock Correlations
| JHEM Etf | USD 26.75 0.23 0.87% |
The correlation of John Hancock is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as John Hancock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if John Hancock Multifactor moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between John Hancock Multifactor and NYA is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Multifactor and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to John Hancock could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace John Hancock when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back John Hancock - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling John Hancock Multifactor to buy it.
Moving together with John Etf
| 0.98 | VWO | Vanguard FTSE Emerging | PairCorr |
| 1.0 | IEMG | iShares Core MSCI | PairCorr |
| 0.95 | EEM | iShares MSCI Emerging | PairCorr |
| 0.98 | SPEM | SPDR Portfolio Emerging | PairCorr |
| 0.93 | FNDE | Schwab Fundamental | PairCorr |
| 0.99 | ESGE | iShares ESG Aware | PairCorr |
| 0.94 | DGS | WisdomTree Emerging | PairCorr |
| 0.99 | XSOE | WisdomTree Emerging | PairCorr |
| 0.91 | EMXC | iShares MSCI Emerging | PairCorr |
| 0.94 | DEM | WisdomTree Emerging | PairCorr |
Moving against John Etf
| 0.48 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
Related Correlations Analysis
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John Hancock Constituents Risk-Adjusted Indicators
There is a big difference between John Etf performing well and John Hancock ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze John Hancock's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Be your own money manager
Our tools can tell you how much better you can do entering a position in John Hancock without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in John Hancock Multifactor?
The danger of trading John Hancock Multifactor is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of John Hancock is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than John Hancock. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile John Hancock Multifactor is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether John Hancock Multifactor offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of John Hancock's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of John Hancock Multifactor Etf. Outlined below are crucial reports that will aid in making a well-informed decision on John Hancock Multifactor Etf: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in John Hancock Multifactor. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in income. Note that the John Hancock Multifactor information on this page should be used as a complementary analysis to other John Hancock's statistical models used 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
The market value of John Hancock Multifactor is measured differently than its book value, which is the value of John that is recorded on the company's balance sheet. Investors also form their own opinion of John Hancock's value that differs from its market value or its book value, called intrinsic value, which is John Hancock's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because John Hancock's market value can be influenced by many factors that don't directly affect John Hancock's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between John Hancock's value and its price as these two are different measures arrived at by different means. Investors typically determine if John Hancock is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, John Hancock's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.