Correlation Between John Hancock and Lebenthal Lisanti
Can any of the company-specific risk be diversified away by investing in both John Hancock and Lebenthal Lisanti 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 Lebenthal Lisanti 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 Lebenthal Lisanti Small, you can compare the effects of market volatilities on John Hancock and Lebenthal Lisanti 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 Lebenthal Lisanti. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Lebenthal Lisanti.
Diversification Opportunities for John Hancock and Lebenthal Lisanti
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between John and Lebenthal is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Variable and Lebenthal Lisanti Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lebenthal Lisanti Small 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 Lebenthal Lisanti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lebenthal Lisanti Small has no effect on the direction of John Hancock i.e., John Hancock and Lebenthal Lisanti go up and down completely randomly.
Pair Corralation between John Hancock and Lebenthal Lisanti
Assuming the 90 days horizon John Hancock is expected to generate 26.84 times less return on investment than Lebenthal Lisanti. But when comparing it to its historical volatility, John Hancock Variable is 8.35 times less risky than Lebenthal Lisanti. It trades about 0.08 of its potential returns per unit of risk. Lebenthal Lisanti Small is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 1,780 in Lebenthal Lisanti Small on May 2, 2025 and sell it today you would earn a total of 302.00 from holding Lebenthal Lisanti Small or generate 16.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
John Hancock Variable vs. Lebenthal Lisanti Small
Performance |
| Timeline |
| John Hancock Variable |
| Lebenthal Lisanti Small |
John Hancock and Lebenthal Lisanti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Lebenthal Lisanti
The main advantage of trading using opposite John Hancock and Lebenthal Lisanti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Lebenthal Lisanti 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 Lebenthal Lisanti will offset losses from the drop in Lebenthal Lisanti's long position.| John Hancock vs. Blackrock Government Bond | John Hancock vs. Loomis Sayles Limited | John Hancock vs. Federated Government Income | John Hancock vs. Bny Mellon Short Term |
| Lebenthal Lisanti vs. Franklin Government Money | Lebenthal Lisanti vs. Profunds Money | Lebenthal Lisanti vs. Dws Government Money | Lebenthal Lisanti vs. Putnam Money Market |
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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