Correlation Between John Hancock and Qs Us
Can any of the company-specific risk be diversified away by investing in both John Hancock and Qs Us at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining John Hancock and Qs Us into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Financial and Qs Large Cap, you can compare the effects of market volatilities on John Hancock and Qs Us and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in John Hancock with a short position of Qs Us. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Qs Us.
Diversification Opportunities for John Hancock and Qs Us
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between John and LMTIX is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Financial and Qs Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qs Large Cap and John Hancock is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on John Hancock Financial are associated (or correlated) with Qs Us. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qs Large Cap has no effect on the direction of John Hancock i.e., John Hancock and Qs Us go up and down completely randomly.
Pair Corralation between John Hancock and Qs Us
Considering the 90-day investment horizon John Hancock Financial is expected to generate 1.82 times more return on investment than Qs Us. However, John Hancock is 1.82 times more volatile than Qs Large Cap. It trades about 0.15 of its potential returns per unit of risk. Qs Large Cap is currently generating about 0.24 per unit of risk. If you would invest 3,421 in John Hancock Financial on June 7, 2025 and sell it today you would earn a total of 361.00 from holding John Hancock Financial or generate 10.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Financial vs. Qs Large Cap
Performance |
| Timeline |
| John Hancock Financial |
| Qs Large Cap |
John Hancock and Qs Us Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Qs Us
The main advantage of trading using opposite John Hancock and Qs Us positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Qs Us can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Qs Us will offset losses from the drop in Qs Us' long position.| John Hancock vs. Tekla Life Sciences | John Hancock vs. Tekla World Healthcare | John Hancock vs. Tekla Healthcare Opportunities | John Hancock vs. Royce Value Closed |
| Qs Us vs. Ab Municipal Bond | Qs Us vs. California Municipal Portfolio | Qs Us vs. Ab Municipal Bond | Qs Us vs. Alpine Ultra Short |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |