John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock Funds
JHAPX Fund  USD 11.42  0.01  0.09%   
The current 90-days correlation between John Hancock Funds and Regional Bank Fund is 0.7 (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 poor diversification

The correlation between John Hancock Funds and DJI is 0.85 (i.e., Very poor 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 american community survey.

Moving together with John Mutual Fund

  0.91FRBAX Regional BankPairCorr
  0.91FRBCX Regional BankPairCorr
  1.0JQLMX Multimanager LifestylePairCorr
  1.0JQLBX Multimanager LifestylePairCorr
  0.99JQLAX Multimanager LifestylePairCorr
  1.0JQLCX Multimanager LifestylePairCorr
  0.66JQLGX Multimanager LifestylePairCorr
  0.91JRBFX Regional BankPairCorr
  0.99JRETX J Hancock IiPairCorr
  0.91JRGRX Regional BankPairCorr
  0.66JRLDX Retirement Living ThroughPairCorr
  1.0JRLFX Multi Index 2010PairCorr
  0.65JRLIX Retirement Living ThroughPairCorr
  0.66JRLHX Retirement Living ThroughPairCorr
  0.65JRLKX Multi Index 2015PairCorr
  0.66JRLLX Retirement Living ThroughPairCorr
  1.0JRLOX Retirement Living ThroughPairCorr
  0.65JRLQX Retirement Living ThroughPairCorr
  1.0JRLPX Multi Index 2020PairCorr
  0.65JRLUX Multi Index 2045PairCorr
  0.65JRLWX Retirement Living ThroughPairCorr
  0.99JRLVX Retirement Living ThroughPairCorr
  0.64JRLZX Retirement Living ThroughPairCorr
  0.65JROUX J Hancock IiPairCorr
  0.64JRODX J Hancock IiPairCorr
  0.99JAAFX Jhancock Multi IndexPairCorr
  0.65JAAJX Jhancock Multi IndexPairCorr
  0.99JAAIX Alternative AssetPairCorr
  0.65JAAKX Jhancock Multi IndexPairCorr
  0.99JAAPX Alternative AssetPairCorr
  0.66JRTBX Retirement Living ThroughPairCorr
  0.66JRTAX Retirement Living ThroughPairCorr
  0.99JAARX Alternative AssetPairCorr
  1.0JRTDX Multi Index 2025PairCorr
  0.65JRTGX Retirement Living ThroughPairCorr
  1.0JRTFX Retirement Living ThroughPairCorr
  0.64JAASX Alternative AssetPairCorr
  0.66JRTIX Multi Index 2030PairCorr
  0.65JAAVX Jhancock MultimanagerPairCorr
  0.65JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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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 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  0.39  0.19  0.10 (110.66) 0.00 
(0.50)
 1.31 
(0.62)
 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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