John Hancock Correlations

HTD Fund  USD 23.71  0.39  1.62%   
The current 90-days correlation between John Hancock Tax and Eaton Vance Tax is 0.58 (i.e., Very weak 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.

John Hancock Correlation With Market

Poor diversification

The correlation between John Hancock Tax and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Tax 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 Tax. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with John Fund

  0.83VSTSX Vanguard Total StockPairCorr
  0.83VSMPX Vanguard Total StockPairCorr
  0.85VITSX Vanguard Total StockPairCorr
  0.83VFFSX Vanguard 500 IndexPairCorr
  0.85VFIAX Vanguard 500 IndexPairCorr
  0.82VTISX Vanguard Total InterPairCorr
  0.82VTSNX Vanguard Total InterPairCorr
  0.83VTPSX Vanguard Total InterPairCorr
  0.85VINIX Vanguard InstitutionalPairCorr
  0.83VTSAX Vanguard Total StockPairCorr
  0.86OAZMX Oakmark Fund R6PairCorr
  0.85FAHYX Fidelity Advisor HighPairCorr
  0.85JECIX John Hancock VarPairCorr
  0.86MISMX Matthews Asia SmallPairCorr
  0.86CBLAX Columbia BalancedPairCorr
  0.81KAMCX Kensington Managed IncomePairCorr
  0.91DCARX Dfa California MunicipalPairCorr
  0.84BGHSX Brandywineglobal HighPairCorr
  0.86JGMCX Janus TritonPairCorr
  0.84BUBSX Baird Ultra ShortPairCorr
  0.82FLCNX Fidelity ContrafundPairCorr
  0.82ETJ Eaton Vance RiskPairCorr
  0.75PNRZX Pgim Jennison NaturalPairCorr
  0.79AAIYX Alger Mid Cap Steady GrowthPairCorr
  0.76IORLX Aim Taxexempt FundsPairCorr
  0.84PGBEX Blue Chip FundPairCorr
  0.88RYCVX Dow 2x StrategyPairCorr
  0.85QIBGX Federated Mdt BalancedPairCorr
  0.85CSGCX Calvert Balanced PorPairCorr
  0.81FTZFX Fuller Thaler BehavioralPairCorr
  0.86ANVHX American Century NonPairCorr
  0.84TEMUX Emerging Markets EquityPairCorr
  0.88STMUX Invesco Short TermPairCorr
  0.87CHY Calamos Convertible AndPairCorr
  0.69BCPAX Brandes E PlusPairCorr
  0.76FBIOX Biotechnology PortfolioPairCorr
  0.83MXEOX Great West EmergingPairCorr
  0.86BLARX Lord Abbett BalancedPairCorr
  0.84GPPSX Goldman Sachs ShortPairCorr
  0.86CLREX Columbia BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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