John Hancock Correlations

JABQX Fund

USD 14.04 0.07 0.50%

The current 90-days correlation between John Hancock Funds and Ab All Market is 0.01 (i.e., Significant diversification). 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 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.

John Hancock Correlation With Market

Significant diversification

The correlation between John Hancock Funds and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Funds 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 John Hancock Funds. 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 producer price index.

Moving together with John Mutual Fund

0.78	CGRGX	American Funds Growth	Pair Corr
0.78	FPGGX	American Funds Growth	Pair Corr
0.78	FGPGX	American Funds Growth	Pair Corr
0.7	MUTHX	Franklin Mutual Shares	Pair Corr
0.7	TESRX	Franklin Mutual Shares	Pair Corr
0.7	FMSHX	Franklin Mutual Shares	Pair Corr
0.79	GWPCX	American Funds Growth	Pair Corr
0.79	GWPFX	American Funds Growth	Pair Corr
0.78	GWPAX	American Funds Growth	Pair Corr
0.78	CGQGX	American Funds Growth	Pair Corr
0.61	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.63	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.62	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.62	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.62	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.63	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.63	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.63	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.68	SAGAX	Ridgeworth Innovative	Pair Corr
0.74	AMEIX	Equity Growth	Pair Corr
0.79	GAPIX	Goldman Sachs Equity	Pair Corr
0.75	MLMAX	Global E Portfolio	Pair Corr
0.74	AMGIX	Income Growth	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against John Mutual Fund

0.58	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.44	KO	Coca Cola Sell-off Trend	Pair Corr
0.4	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.35	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	AMTOX	REMVX	GAGPX	POEIX	XWDIX	APDOX	VTMNX
AMTOX		0.81	0.81	0.89	0.02	0.67	0.36	AMTOX
REMVX	0.81		0.99	0.93	0.13	0.36	0.59	REMVX
GAGPX	0.81	0.99		0.94	0.08	0.36	0.57	GAGPX
POEIX	0.89	0.93	0.94		-0.13	0.62	0.34	POEIX
XWDIX	0.02	0.13	0.08	-0.13		-0.48	0.74	XWDIX
APDOX	0.67	0.36	0.36	0.62	-0.48		-0.35	APDOX
VTMNX	0.36	0.59	0.57	0.34	0.74	-0.35		VTMNX
	AMTOX	REMVX	GAGPX	POEIX	XWDIX	APDOX	VTMNX

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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

GAGPX	+ 0.99	REMVX
POEIX	+ 0.94	GAGPX
POEIX	+ 0.93	REMVX
POEIX	+ 0.89	AMTOX
REMVX	+ 0.81	AMTOX
GAGPX	+ 0.81	AMTOX

High negative correlations

APDOX	- 0.48	XWDIX
VTMNX	- 0.35	APDOX
XWDIX	- 0.13	POEIX

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
AMTOX	0.46	(0.02)	(0.14)	0.05	0.57	(0.54)	1.00	(1.08)	2.38
REMVX	0.85	(0.08)	0.00	(0.10)	0.00	0.00	1.74	(2.04)	6.85
GAGPX	0.71	(0.08)	0.00	(0.10)	0.00	0.00	1.43	(1.84)	5.18
POEIX	0.77	(0.06)	(0.11)	0.00	0.94	(0.86)	1.54	(1.82)	5.70
XWDIX	0.17	(0.02)	0.00	(2.43)	0.00	0.00	0.32	(0.38)	1.39
APDOX	0.15	0.01	(0.40)	0.23	0.07	(0.21)	0.39	(0.20)	0.78
VTMNX	0.63	(0.14)	0.00	(0.18)	0.00	0.00	0.99	(1.55)	3.94

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