Correlation Between Calvert Global and J Hancock
Can any of the company-specific risk be diversified away by investing in both Calvert Global and J Hancock 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 Calvert Global and J Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Global Energy and J Hancock Ii, you can compare the effects of market volatilities on Calvert Global and J Hancock 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 Calvert Global with a short position of J Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Global and J Hancock.
Diversification Opportunities for Calvert Global and J Hancock
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calvert and JRETX is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Global Energy and J Hancock Ii in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J Hancock Ii and Calvert Global 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 Calvert Global Energy are associated (or correlated) with J Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J Hancock Ii has no effect on the direction of Calvert Global i.e., Calvert Global and J Hancock go up and down completely randomly.
Pair Corralation between Calvert Global and J Hancock
Assuming the 90 days horizon Calvert Global Energy is expected to generate 1.35 times more return on investment than J Hancock. However, Calvert Global is 1.35 times more volatile than J Hancock Ii. It trades about 0.15 of its potential returns per unit of risk. J Hancock Ii is currently generating about 0.14 per unit of risk. If you would invest 1,289 in Calvert Global Energy on July 24, 2025 and sell it today you would earn a total of 107.00 from holding Calvert Global Energy or generate 8.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert Global Energy vs. J Hancock Ii
Performance |
| Timeline |
| Calvert Global Energy |
| J Hancock Ii |
Calvert Global and J Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Global and J Hancock
The main advantage of trading using opposite Calvert Global and J Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Global position performs unexpectedly, J Hancock 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 J Hancock will offset losses from the drop in J Hancock's long position.| Calvert Global vs. Needham Growth Fund | Calvert Global vs. William Blair Emerging | Calvert Global vs. Blackrock 2037 Municipal | Calvert Global vs. Walden Asset Management |
| J Hancock vs. Gmo High Yield | J Hancock vs. Ab Global Risk | J Hancock vs. Msift High Yield | J Hancock vs. Prudential High Yield |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |