John Hancock Correlations

Mutual Funds . USA . 
Fund . John Hancock Variable
JAFKX Fund  USD 18.86  0.04  0.21%   
The current 90-days correlation between John Hancock Variable and Vanguard Total Stock is 0.5 (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. 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 Variable and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Variable 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 Variable. 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 board of governors.

Moving together with John Mutual Fund

  0.66VTSAX Vanguard Total StockPairCorr
  0.62VFIAX Vanguard 500 IndexPairCorr
  0.63VTSMX Vanguard Total StockPairCorr
  0.63VITSX Vanguard Total StockPairCorr
  0.67VSTSX Vanguard Total StockPairCorr
  0.63VSMPX Vanguard Total StockPairCorr
  0.62VFINX Vanguard 500 IndexPairCorr
  0.62VFFSX Vanguard 500 IndexPairCorr
  0.65VGTSX Vanguard Total InterPairCorr
  0.65VTIAX Vanguard Total InterPairCorr
  0.67NHS Neuberger Berman HighPairCorr
  0.7PSNSX Pimco Stocksplus SmallPairCorr
  0.61JPM JPMorgan ChasePairCorr
  0.85MRK Merck CompanyPairCorr
  0.75BAC Bank of America Aggressive PushPairCorr
  0.69CVX Chevron CorpPairCorr

Moving against John Mutual Fund

  0.39PG Procter GamblePairCorr
  0.35KO Coca ColaPairCorr

Related Correlations Analysis


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
VTSAX  0.51  0.19  0.11 (0.81) 0.21 
(0.62)
 1.26 
(0.81)
 3.73 
VFIAX  0.46  0.06  0.06  0.18  0.23 
(0.54)
 1.12 
(0.79)
 2.71 
VTSMX  0.48  0.05  0.07  0.17  0.28 
(0.58)
 1.15 
(0.81)
 2.80 
VITSX  0.48  0.05  0.06  0.17  0.28 
(0.58)
 1.15 
(0.81)
 2.80 
VSTSX  0.51  0.19  0.11 (0.66) 0.21 
(0.61)
 1.26 
(0.81)
 3.73 
VSMPX  0.48  0.05  0.07  0.17  0.28 
(0.58)
 1.15 
(0.81)
 2.80 
VFINX  0.46  0.06  0.06  0.19  0.24 
(0.54)
 1.12 
(0.79)
 2.71 
VFFSX  0.46  0.06  0.06  0.18  0.23 
(0.52)
 1.11 
(0.78)
 2.71 
VGTSX  0.51  0.02 (0.01) 0.13  0.51 
(0.51)
 1.32 
(1.15)
 3.02 
VTIAX  0.51  0.02 (0.01) 0.13  0.52 
(0.50)
 1.34 
(1.15)
 3.03 

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