Correlation Between John Hancock and Knights Of
Can any of the company-specific risk be diversified away by investing in both John Hancock and Knights Of 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 Knights Of into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Esg and Knights Of Umbus, you can compare the effects of market volatilities on John Hancock and Knights Of 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 Knights Of. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Knights Of.
Diversification Opportunities for John Hancock and Knights Of
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between John and Knights is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Esg and Knights Of Umbus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Knights Of Umbus 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 Esg are associated (or correlated) with Knights Of. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Knights Of Umbus has no effect on the direction of John Hancock i.e., John Hancock and Knights Of go up and down completely randomly.
Pair Corralation between John Hancock and Knights Of
Assuming the 90 days horizon John Hancock is expected to generate 1.76 times less return on investment than Knights Of. But when comparing it to its historical volatility, John Hancock Esg is 1.11 times less risky than Knights Of. It trades about 0.16 of its potential returns per unit of risk. Knights Of Umbus is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 2,092 in Knights Of Umbus on May 28, 2025 and sell it today you would earn a total of 230.00 from holding Knights Of Umbus or generate 10.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Esg vs. Knights Of Umbus
Performance |
| Timeline |
| John Hancock Esg |
| Knights Of Umbus |
John Hancock and Knights Of Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Knights Of
The main advantage of trading using opposite John Hancock and Knights Of positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Knights Of 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 Knights Of will offset losses from the drop in Knights Of's long position.| John Hancock vs. Transamerica Bond Class | John Hancock vs. T Rowe Price | John Hancock vs. Gmo E Plus | John Hancock vs. T Rowe Price |
| Knights Of vs. Goldman Sachs Government | Knights Of vs. Wesmark Government Bond | Knights Of vs. Aig Government Money | Knights Of vs. Jpmorgan Government Bond |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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