John Hancock Correlations

JAIPX Fund

USD 13.42 0.04 0.30%

The current 90-days correlation between John Hancock Variable and Wealthbuilder Moderate Balanced is 0.6 (i.e., Poor 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

Very weak diversification

The correlation between John Hancock Variable and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Variable 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 Variable. 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 metropolitan statistical area.

Moving together with John Mutual Fund

0.92	VTSAX	Vanguard Total Stock	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.92	VTSMX	Vanguard Total Stock	Pair Corr
0.92	VITSX	Vanguard Total Stock	Pair Corr
0.92	VSTSX	Vanguard Total Stock	Pair Corr
0.92	VSMPX	Vanguard Total Stock	Pair Corr
0.91	VFINX	Vanguard 500 Index	Pair Corr
0.91	VFFSX	Vanguard 500 Index	Pair Corr
0.92	VGTSX	Vanguard Total Inter	Pair Corr
0.92	VTIAX	Vanguard Total Inter	Pair Corr
0.7	NHS	Neuberger Berman High	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.61	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr
0.78	BAC	Bank of America Aggressive Push	Pair Corr
0.77	AXP	American Express	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.82	INTC	Intel Aggressive Push	Pair Corr

Moving against John Mutual Fund

0.66	DIS	Walt Disney	Pair Corr
0.52	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	WMBFX	MDARX	TSIMX	VRRJX	BIMPX	PPLSX
WMBFX		1.0	1.0	1.0	0.99	1.0	WMBFX
MDARX	1.0		1.0	1.0	0.99	1.0	MDARX
TSIMX	1.0	1.0		1.0	0.99	1.0	TSIMX
VRRJX	1.0	1.0	1.0		0.99	1.0	VRRJX
BIMPX	0.99	0.99	0.99	0.99		0.99	BIMPX
PPLSX	1.0	1.0	1.0	1.0	0.99		PPLSX
	WMBFX	MDARX	TSIMX	VRRJX	BIMPX	PPLSX

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
WMBFX	0.35	0.03	0.00	0.13	0.31	(0.45)	0.90	(0.56)	2.93
MDARX	0.33	0.03	(0.01)	0.12	0.27	(0.39)	0.82	(0.44)	2.85
TSIMX	0.32	0.03	(0.01)	0.13	0.22	(0.39)	0.73	(0.44)	2.67
VRRJX	0.34	0.02	(0.01)	0.11	0.31	(0.39)	0.82	(0.47)	3.00
BIMPX	0.24	0.04	(0.03)	0.17	0.00	(0.33)	0.56	(0.29)	2.00
PPLSX	0.31	0.02	(0.02)	0.11	0.31	(0.36)	0.79	(0.53)	2.83

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