John Hancock Correlations
| JVMTX Fund | USD 28.55 0.23 0.81% |
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 Disciplined 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.
Almost no diversification
The correlation between John Hancock Disciplined and NYA is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Disciplined and NYA in the same portfolio, assuming nothing else is changed.
John |
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 Disciplined to buy it.
Moving together with John Mutual Fund
| 0.96 | JQLMX | Multimanager Lifestyle | PairCorr |
| 0.98 | JQLBX | Multimanager Lifestyle | PairCorr |
| 0.98 | JQLAX | Multimanager Lifestyle | PairCorr |
| 0.85 | JQLCX | Multimanager Lifestyle | PairCorr |
| 0.99 | JQLGX | Multimanager Lifestyle | PairCorr |
| 0.61 | JRBFX | Regional Bank | PairCorr |
| 0.98 | JRETX | J Hancock Ii | PairCorr |
| 0.61 | JRGRX | Regional Bank | PairCorr |
| 0.9 | JRLDX | Retirement Living Through | PairCorr |
| 0.9 | JRLFX | Multi Index 2010 | PairCorr |
| 0.92 | JRLIX | Retirement Living Through | PairCorr |
| 0.91 | JRLHX | Retirement Living Through | PairCorr |
| 0.92 | JRLKX | Multi Index 2015 | PairCorr |
| 0.92 | JRLLX | Retirement Living Through | PairCorr |
| 0.93 | JRLOX | Retirement Living Through | PairCorr |
| 0.98 | JRLQX | Retirement Living Through | PairCorr |
| 0.92 | JRLPX | Multi Index 2020 | PairCorr |
| 0.98 | JRLUX | Multi Index 2045 | PairCorr |
Related Correlations Analysis
| 0.34 | -0.5 | 0.7 | 0.37 | NFEAX | ||
| 0.34 | -0.44 | 0.58 | 0.33 | AQUI | ||
| -0.5 | -0.44 | -0.52 | -0.52 | BRRAY | ||
| 0.7 | 0.58 | -0.52 | 0.68 | MSTSX | ||
| 0.37 | 0.33 | -0.52 | 0.68 | VIASP | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between John Mutual Fund performing well and John Hancock Mutual Fund 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NFEAX | 0.86 | (0.03) | (0.02) | 0.04 | 0.91 | 1.80 | 5.62 | |||
| AQUI | 0.60 | 0.29 | 0.00 | 6.64 | 0.00 | 0.00 | 20.00 | |||
| BRRAY | 1.03 | 0.09 | 0.00 | (0.10) | 0.00 | 0.00 | 35.79 | |||
| MSTSX | 0.50 | 0.01 | 0.00 | 0.08 | 0.63 | 1.07 | 3.20 | |||
| VIASP | 1.27 | 0.03 | 0.02 | 0.09 | 1.85 | 2.59 | 13.41 |
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 Disciplined?
The danger of trading John Hancock Disciplined is mainly related to its market volatility and Mutual Fund 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 Disciplined 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.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in John Hancock Disciplined. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.