Jhancock Multimanager Correlations

Mutual Funds USA . 
Fund . Jhancock Multimanager 2065
JABDX Fund  USD 14.23  0.01  0.07%   
The current 90-days correlation between Jhancock Multimanager and Regional Bank Fund is 0.74 (i.e., Poor 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 unemployment.

Moving together with Jhancock Mutual Fund

  0.91FRBAX Regional BankPairCorr
  0.91FRBCX Regional BankPairCorr
  0.99JQLMX Multimanager LifestylePairCorr
  0.98JQLCX Multimanager LifestylePairCorr
  0.91JRBFX Regional BankPairCorr
  0.91JRGRX Regional BankPairCorr
  1.0JRLQX Retirement Living ThroughPairCorr
  1.0JRLUX Multi Index 2045PairCorr
  1.0JRLZX Retirement Living ThroughPairCorr
  1.0JROUX J Hancock IiPairCorr
  1.0JRODX J Hancock IiPairCorr
  1.0JAAJX Jhancock Multi IndexPairCorr
  0.99JAAIX Alternative AssetPairCorr
  1.0JAAKX Jhancock Multi IndexPairCorr
  0.99JRTBX Retirement Living ThroughPairCorr
  1.0JAAWX Jhancock MultimanagerPairCorr
  1.0JRTTX Retirement Living ThroughPairCorr
  1.0JRTWX Retirement Living ThroughPairCorr
  1.0JRTVX Multi Index 2040PairCorr
  1.0JRTYX Multi Index 2050PairCorr
  0.97JABJX John Hancock FundsPairCorr
  0.99JABKX John Hancock FundsPairCorr
  1.0JABPX John Hancock FundsPairCorr
  0.99JABZX John Hancock GlobalPairCorr
  1.0JSLAX Multimanager LifestylePairCorr
  0.93JSNIX Jhancock Short DurationPairCorr
  1.0JTAIX Multimanager LifestylePairCorr
  1.0JTLAX Multimanager LifestylePairCorr
  0.99JTMIX Multimanager LifestylePairCorr
  0.69TIUSX John Hancock InvestmentPairCorr
  1.0JCLAX Multimanager LifestylePairCorr
  0.99JCLMX Multimanager LifestylePairCorr
  0.98JCVIX Classic ValuePairCorr
  0.89JDJRX Jhancock DiversifiedPairCorr
  0.98JDIVX John Hancock DisciplinedPairCorr
  0.85JDJIX Jhancock DiversifiedPairCorr
  0.99JDVNX Jhancock DisciplinedPairCorr
  0.99JVMAX John Hancock DisciplinedPairCorr
  0.99JVMIX John Hancock DisciplinedPairCorr

Related Correlations Analysis

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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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FRBAX  1.08  0.19  0.16  0.30  0.92 
(1.32)
 2.61 
(1.40)
 6.87 
FRBCX  1.08  0.19  0.16  0.30  0.92 
(1.31)
 2.58 
(1.42)
 6.80 
JQLMX  0.25  0.06 (0.07) 0.30  0.00 
(0.30)
 0.81 
(0.47)
 1.74 
JQLBX  0.34  0.08  0.01  0.30  0.00 
(0.41)
 1.11 
(0.70)
 2.38 
JQLAX  0.49  0.11  0.10  0.30  0.34 
(0.57)
 1.63 
(1.18)
 3.50 
JQLCX  0.17  0.04 (0.21) 0.34  0.00 
(0.23)
 0.44 
(0.25)
 1.29 
JQLGX  0.43  0.10  0.06  0.30  0.23 
(0.52)
 1.34 
(1.05)
 3.04 
JRBFX  1.10  0.19  0.17  0.30  0.92 
(1.33)
 2.62 
(1.40)
 6.88 
JRETX  0.51  0.12  0.11  0.30  0.33 
(0.61)
 1.71 
(1.24)
 3.61 
JRGRX  1.10  0.19  0.16  0.30  0.92 
(1.33)
 2.58 
(1.40)
 6.88 

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