Correlation Between John Hancock and Rbb Fund
Can any of the company-specific risk be diversified away by investing in both John Hancock and Rbb Fund 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 Rbb Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Variable and Rbb Fund , you can compare the effects of market volatilities on John Hancock and Rbb Fund 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 Rbb Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Rbb Fund.
Diversification Opportunities for John Hancock and Rbb Fund
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between John and Rbb is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Variable and Rbb Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rbb Fund 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 Variable are associated (or correlated) with Rbb Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rbb Fund has no effect on the direction of John Hancock i.e., John Hancock and Rbb Fund go up and down completely randomly.
Pair Corralation between John Hancock and Rbb Fund
Assuming the 90 days horizon John Hancock is expected to generate 1.79 times less return on investment than Rbb Fund. In addition to that, John Hancock is 3.26 times more volatile than Rbb Fund . It trades about 0.04 of its total potential returns per unit of risk. Rbb Fund is currently generating about 0.23 per unit of volatility. If you would invest 968.00 in Rbb Fund on May 26, 2025 and sell it today you would earn a total of 35.00 from holding Rbb Fund or generate 3.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Variable vs. Rbb Fund
Performance |
| Timeline |
| John Hancock Variable |
| Rbb Fund |
John Hancock and Rbb Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Rbb Fund
The main advantage of trading using opposite John Hancock and Rbb Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Rbb Fund 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 Rbb Fund will offset losses from the drop in Rbb Fund's long position.| John Hancock vs. Western Asset Diversified | John Hancock vs. Old Westbury Small | John Hancock vs. Artisan Small Cap | John Hancock vs. Nt International Small Mid |
| Rbb Fund vs. T Rowe Price | Rbb Fund vs. Qs Defensive Growth | Rbb Fund vs. Calamos Growth Fund | Rbb Fund vs. Qs Growth Fund |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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