Manulife Financial Correlations

MLU Stock

EUR 26.49 0.47 1.81%

The current 90-days correlation between Manulife Financial and MetLife is 0.35 (i.e., Weak diversification). The correlation of Manulife Financial 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.

Manulife Financial Correlation With Market

Good diversification

The correlation between Manulife Financial and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Financial and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Manulife Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Manulife Financial when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Manulife Financial - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Manulife Financial to buy it.

Moving together with Manulife Stock

0.85	MWZ	MetLife	Pair Corr
0.72	PLL	Prudential Financial	Pair Corr
0.84	QHH	Dai ichi Life	Pair Corr
0.66	PQ9	BANK MANDIRI	Pair Corr
0.66	BYRA	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.68	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.66	T1I	Tamburi Investment	Pair Corr
0.62	AI3A	Amadeus IT Group	Pair Corr
0.66	CHH	CK Infrastructure	Pair Corr
0.65	VOL4	VOLVO B UNSPADR	Pair Corr
0.7	9R9	Neometals	Pair Corr
0.62	RAX	RANGE RESOURCES Earnings Call This Week	Pair Corr
0.7	2BH	HCA Healthcare Earnings Call This Week	Pair Corr
0.72	TGE1	Mobilezone Holding	Pair Corr
0.76	MUM	MENSCH UND MASCHINE Earnings Call This Week	Pair Corr

Moving against Manulife Stock

0.68	DBPD	Xtrackers ShortDAX	Pair Corr
0.42	JOT	ELEKTROBIT	Pair Corr

Related Correlations Analysis

	PZX	7A2	CHL	MWZ	PRU	PLL	75C	MLU	GWS	QHH
PZX		0.5	0.59	-0.19	0.48	-0.14	0.63	-0.03	-0.33	0.12	PZX
7A2	0.5		0.86	0.5	0.9	0.51	0.67	0.59	-0.44	0.72	7A2
CHL	0.59	0.86		0.15	0.91	0.24	0.94	0.18	-0.6	0.41	CHL
MWZ	-0.19	0.5	0.15		0.41	0.92	-0.12	0.85	-0.03	0.69	MWZ
PRU	0.48	0.9	0.91	0.41		0.47	0.79	0.4	-0.56	0.53	PRU
PLL	-0.14	0.51	0.24	0.92	0.47		0.01	0.72	-0.15	0.57	PLL
75C	0.63	0.67	0.94	-0.12	0.79	0.01		-0.12	-0.65	0.14	75C
MLU	-0.03	0.59	0.18	0.85	0.4	0.72	-0.12		0.09	0.84	MLU
GWS	-0.33	-0.44	-0.6	-0.03	-0.56	-0.15	-0.65	0.09		0.02	GWS
QHH	0.12	0.72	0.41	0.69	0.53	0.57	0.14	0.84	0.02		QHH
	PZX	7A2	CHL	MWZ	PRU	PLL	75C	MLU	GWS	QHH

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

75C	+ 0.94	CHL
PLL	+ 0.92	MWZ
PRU	+ 0.91	CHL
PRU	+ 0.9	7A2
CHL	+ 0.86	7A2
MLU	+ 0.85	MWZ

High negative correlations

GWS	- 0.65	75C
GWS	- 0.6	CHL
GWS	- 0.56	PRU
GWS	- 0.44	7A2
GWS	- 0.33	PZX
MWZ	- 0.19	PZX

Risk-Adjusted Indicators

There is a big difference between Manulife Stock performing well and Manulife Financial Company 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 Manulife Financial'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
PZX	2.38	0.41	0.05	(0.78)	3.75	(3.16)	3.25	(2.38)	35.45
7A2	1.61	0.37	0.10	(21.19)	1.85	(1.71)	3.88	(3.77)	11.43
CHL	1.70	0.53	0.19	(5.66)	1.45	(2.22)	3.68	(2.94)	13.26
MWZ	1.11	0.04	(0.07)	(6.04)	1.18	(1.36)	2.77	(1.81)	8.24
PRU	1.42	0.32	0.07	(0.67)	1.46	(1.79)	3.80	(2.75)	8.00
PLL	1.18	0.01	(0.09)	0.45	1.23	(1.52)	2.47	(1.73)	9.21
75C	2.45	1.07	0.44	(15.46)	1.27	(3.50)	6.08	(2.89)	42.31
MLU	1.05	0.13	(0.03)	(0.52)	0.94	(1.39)	2.45	(1.78)	7.74
GWS	1.03	(0.02)	(0.08)	0.03	1.32	(1.19)	2.42	(2.38)	6.13
QHH	1.36	0.13	0.04	0.33	1.42	(1.71)	2.38	(2.65)	10.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Manulife Financial without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Manulife Financial Corporate Management

Elected by the shareholders, the Manulife Financial's board of directors comprises two types of representatives: Manulife Financial inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Manulife. The board's role is to monitor Manulife Financial's management team and ensure that shareholders' interests are well served. Manulife Financial's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Manulife Financial's outside directors are responsible for providing unbiased perspectives on the board's policies.

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