Correlation Between John Hancock and Quantified Tactical
Can any of the company-specific risk be diversified away by investing in both John Hancock and Quantified Tactical 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 Quantified Tactical 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 Quantified Tactical Fixed, you can compare the effects of market volatilities on John Hancock and Quantified Tactical 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 Quantified Tactical. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Quantified Tactical.
Diversification Opportunities for John Hancock and Quantified Tactical
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between John and Quantified is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Financial and Quantified Tactical Fixed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quantified Tactical Fixed 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 Quantified Tactical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quantified Tactical Fixed has no effect on the direction of John Hancock i.e., John Hancock and Quantified Tactical go up and down completely randomly.
Pair Corralation between John Hancock and Quantified Tactical
Considering the 90-day investment horizon John Hancock Financial is expected to generate 3.88 times more return on investment than Quantified Tactical. However, John Hancock is 3.88 times more volatile than Quantified Tactical Fixed. It trades about 0.32 of its potential returns per unit of risk. Quantified Tactical Fixed is currently generating about 0.02 per unit of risk. If you would invest 3,442 in John Hancock Financial on June 4, 2025 and sell it today you would earn a total of 269.00 from holding John Hancock Financial or generate 7.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
John Hancock Financial vs. Quantified Tactical Fixed
Performance |
| Timeline |
| John Hancock Financial |
| Quantified Tactical Fixed |
John Hancock and Quantified Tactical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Quantified Tactical
The main advantage of trading using opposite John Hancock and Quantified Tactical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Quantified Tactical 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 Quantified Tactical will offset losses from the drop in Quantified Tactical's 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 |
| Quantified Tactical vs. Gamco Global Gold | Quantified Tactical vs. Deutsche Gold Precious | Quantified Tactical vs. Goldman Sachs Clean | Quantified Tactical vs. Franklin Gold Precious |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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