Correlation Between Clifford Capital and John Hancock
Can any of the company-specific risk be diversified away by investing in both Clifford Capital and John 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 Clifford Capital and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clifford Capital Partners and John Hancock Income, you can compare the effects of market volatilities on Clifford Capital and John 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 Clifford Capital with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clifford Capital and John Hancock.
Diversification Opportunities for Clifford Capital and John Hancock
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Clifford and John is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Clifford Capital Partners and John Hancock Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Income and Clifford Capital 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 Clifford Capital Partners are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Income has no effect on the direction of Clifford Capital i.e., Clifford Capital and John Hancock go up and down completely randomly.
Pair Corralation between Clifford Capital and John Hancock
Assuming the 90 days horizon Clifford Capital is expected to generate 1.14 times less return on investment than John Hancock. In addition to that, Clifford Capital is 1.62 times more volatile than John Hancock Income. It trades about 0.07 of its total potential returns per unit of risk. John Hancock Income is currently generating about 0.13 per unit of volatility. If you would invest 1,136 in John Hancock Income on September 1, 2025 and sell it today you would earn a total of 51.00 from holding John Hancock Income or generate 4.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Clifford Capital Partners vs. John Hancock Income
Performance |
| Timeline |
| Clifford Capital Partners |
| John Hancock Income |
Clifford Capital and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clifford Capital and John Hancock
The main advantage of trading using opposite Clifford Capital and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clifford Capital position performs unexpectedly, John 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 John Hancock will offset losses from the drop in John Hancock's long position.| Clifford Capital vs. T Rowe Price | Clifford Capital vs. T Rowe Price | Clifford Capital vs. Franklin Lifesmart 2045 | Clifford Capital vs. Fidelity Managed Retirement |
| John Hancock vs. Asure Software | John Hancock vs. Zhibao Technology Class | John Hancock vs. BC Technology Group | John Hancock vs. TeraForce Technology |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Stocks Directory Find actively traded stocks across global markets |