John Hancock Correlations

Etfs . USA . 
Etf . John Hancock Multifactor
JHMM Etf  USD 64.05  0.65  1.03%   
The current 90-days correlation between John Hancock Multifactor and Vanguard Mid Cap Index is 0.97 (i.e., Almost no diversification). 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 Multifactor moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

John Hancock Correlation With Market

Almost no diversification

The correlation between John Hancock Multifactor and DJI is 0.92 (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 Multifactor 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 Multifactor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with John Etf

  0.99VO Vanguard Mid CapPairCorr
  0.98VXF Vanguard Extended MarketPairCorr
  0.99IJH iShares Core SPPairCorr
  1.0IWR iShares Russell MidPairCorr
  0.99MDY SPDR SP MIDCAPPairCorr
  0.96FV First Trust DorseyPairCorr
  0.99IVOO Vanguard SP MidPairCorr
  0.99BBMC JPMorgan BetaBuilders MidPairCorr
  0.96REGL ProShares SP MidCap Low VolatilityPairCorr
  0.99VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500 Aggressive PushPairCorr
  0.98IVV iShares Core SPPairCorr
  0.96VTV Vanguard Value IndexPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.96DIVG Invesco Exchange TradedPairCorr
  0.67IDGT iShares Trust Symbol ChangePairCorr
  0.86BTC Grayscale Bitcoin MiniPairCorr
  0.96DIVB iShares DividendPairCorr
  0.86MSTY YieldMax MSTR OptionPairCorr
  0.83DISO Tidal Trust IIPairCorr
  0.65IDU iShares Utilities ETFPairCorr
  0.76TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.91AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.86HPQ HP IncPairCorr
  0.7XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.83CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.97AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.87BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr

Moving against John Etf

  0.71BND Vanguard Total BondPairCorr
  0.47VEA Vanguard FTSE DevelopedPairCorr
  0.78JNJ Johnson Johnson Sell-off TrendPairCorr
  0.74KO Coca Cola Aggressive PushPairCorr
  0.71BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.42PG Procter GamblePairCorr

Related Correlations Analysis

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John Hancock Constituents Risk-Adjusted Indicators

There is a big difference between John Etf performing well and John Hancock ETF 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.

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