Jhancock Multimanager Correlations

JAAVX Fund  USD 14.22  0.06  0.42%   
The current 90-days correlation between Jhancock Multimanager and Calamos Dynamic Convertible is 0.41 (i.e., Very weak diversification). The correlation of Jhancock Multimanager 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 Multimanager Correlation With Market

Almost no diversification

The correlation between Jhancock Multimanager 2065 and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Multimanager 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 Multimanager 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 real.

Moving together with Jhancock Mutual Fund

  0.87FRBAX Regional BankPairCorr
  0.86FRBCX Regional BankPairCorr
  0.99JQLMX Multimanager LifestylePairCorr
  1.0JQLBX Multimanager LifestylePairCorr
  0.99JQLAX Multimanager LifestylePairCorr
  0.97JQLCX Multimanager LifestylePairCorr
  1.0JQLGX Multimanager LifestylePairCorr
  0.87JRBFX Regional BankPairCorr
  1.0JRETX J Hancock IiPairCorr
  0.87JRGRX Regional BankPairCorr
  0.97JRLDX Retirement Living ThroughPairCorr
  0.97JRLFX Multi Index 2010PairCorr
  0.98JRLIX Retirement Living ThroughPairCorr
  0.97JRLHX Retirement Living ThroughPairCorr
  0.98JRLKX Multi Index 2015PairCorr
  0.98JRLLX Retirement Living ThroughPairCorr
  0.99JRLOX Retirement Living ThroughPairCorr
  1.0JRLQX Retirement Living ThroughPairCorr
  0.99JRLPX Multi Index 2020PairCorr
  1.0JRLUX Multi Index 2045PairCorr
  1.0JRLWX Retirement Living ThroughPairCorr
  1.0JRLVX Retirement Living ThroughPairCorr
  1.0JRLZX Retirement Living ThroughPairCorr
  0.98JROUX J Hancock IiPairCorr
  1.0JRODX J Hancock IiPairCorr
  1.0JAAFX Jhancock Multi IndexPairCorr
  1.0JAAJX Jhancock Multi IndexPairCorr
  0.98JAAIX Alternative AssetPairCorr
  1.0JAAKX Jhancock Multi IndexPairCorr
  0.98JAAPX Alternative AssetPairCorr
  0.99JRTBX Retirement Living ThroughPairCorr
  0.99JRTAX Retirement Living ThroughPairCorr
  0.97JAARX Alternative AssetPairCorr
  0.99JRTDX Multi Index 2025PairCorr
  0.98JRTGX Retirement Living ThroughPairCorr
  0.99JRTFX Retirement Living ThroughPairCorr
  0.98JAASX Alternative AssetPairCorr
  1.0JRTIX Multi Index 2030PairCorr
  1.0JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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   
ARBOXVAADX
VAADXPCNTX
XAVKXPCNTX
ARBOXPCNTX
XAVKXVAADX
ARBOXXAVKX
  
High negative correlations   
PCNTXCCD
VAADXCCD
ARBOXCCD
XAVKXCCD

Risk-Adjusted Indicators

There is a big difference between Jhancock Mutual Fund performing well and Jhancock Multimanager 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 Multimanager'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.