John Hancock Correlations

JVMAX Fund

USD 26.29 0.10 0.38%

The current 90-days correlation between John Hancock Disciplined and John Hancock Disciplined is 0.98 (i.e., Almost no 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

Good diversification

The correlation between John Hancock Disciplined and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Disciplined 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 Disciplined. 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 nation.

Moving together with John Mutual Fund

0.97	VMVAX	Vanguard Mid Cap	Pair Corr
1.0	JVMIX	John Hancock Disciplined	Pair Corr
0.97	VMVIX	Vanguard Mid Cap	Pair Corr
0.95	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.95	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.95	VETAX	Victory Sycamore Est	Pair Corr
0.68	MCBXX	Blackrock Financial	Pair Corr
0.92	DIERX	Dreyfus International	Pair Corr
0.91	EMDIX	Federated Emerging Market	Pair Corr
0.79	MSFT	Microsoft	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.85	BA	Boeing	Pair Corr
0.93	BAC	Bank of America	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.92	CAT	Caterpillar	Pair Corr
0.88	AXP	American Express	Pair Corr
0.82	IBM	International Business	Pair Corr

Moving against John Mutual Fund

0.6	PQTAX	Pimco Trends Managed	Pair Corr
0.6	PQTNX	Pimco Trends Managed	Pair Corr
0.6	PQTIX	Aa Pimco Tr	Pair Corr

Related Correlations Analysis

	JVLAX	JHNBX	USGLX	MGIAX	GOIGX
JVLAX		0.36	0.97	0.93	0.92	JVLAX
JHNBX	0.36		0.3	0.25	0.24	JHNBX
USGLX	0.97	0.3		0.92	0.92	USGLX
MGIAX	0.93	0.25	0.92		0.99	MGIAX
GOIGX	0.92	0.24	0.92	0.99		GOIGX
	JVLAX	JHNBX	USGLX	MGIAX	GOIGX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JVLAX	0.92	0.04	0.01	(0.64)	1.64	(0.90)	1.81	(1.92)	10.13
JHNBX	0.30	0.00	(0.05)	0.03	0.40	(0.31)	0.60	(0.61)	1.93
USGLX	1.11	0.04	0.01	(0.66)	1.75	(1.08)	2.47	(2.57)	12.46
MGIAX	0.78	0.07	0.03	0.42	1.45	(0.75)	1.37	(1.32)	7.13
GOIGX	0.81	0.12	0.05	1.96	1.43	(0.76)	1.25	(1.59)	7.96

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