Jhancock Multi-index Correlations

Mutual Funds . USA . 
Fund . Jhancock Multi Index 2065
JAAKX Fund  USD 15.56  0.06  0.38%   
The current 90-days correlation between Jhancock Multi Index and Conservative Balanced Allocation is 0.84 (i.e., Very poor diversification). The correlation of Jhancock Multi-index 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Jhancock Multi-index Correlation With Market

Good diversification

The correlation between Jhancock Multi Index 2065 and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Multi Index 2065 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Jhancock Multi Index 2065. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Jhancock Mutual Fund

  0.61JQLGX Multimanager LifestylePairCorr
  0.61JRBFX Regional BankPairCorr
  0.67JRETX J Hancock IiPairCorr
  0.61JRGRX Regional BankPairCorr
  0.98JRLHX Retirement Living ThroughPairCorr
  0.65JRLKX Multi Index 2015PairCorr
  1.0JRLWX Retirement Living ThroughPairCorr
  0.98JROUX J Hancock IiPairCorr
  0.61JAAIX Alternative AssetPairCorr
  0.68JAAPX Alternative AssetPairCorr
  0.65JRTBX Retirement Living ThroughPairCorr
  0.99JRTAX Retirement Living ThroughPairCorr
  0.66JRTDX Multi Index 2025PairCorr
  0.98JRTGX Retirement Living ThroughPairCorr
  0.99JRTFX Retirement Living ThroughPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Jhancock Mutual Fund performing well and Jhancock Multi-index 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 Jhancock Multi-index'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.

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