Correlation Between John Hancock and Rbc China
Can any of the company-specific risk be diversified away by investing in both John Hancock and Rbc China 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 Rbc China into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Money and Rbc China Equity, you can compare the effects of market volatilities on John Hancock and Rbc China 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 Rbc China. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Rbc China.
Diversification Opportunities for John Hancock and Rbc China
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between John and Rbc is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Money and Rbc China Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rbc China Equity 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 Money are associated (or correlated) with Rbc China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rbc China Equity has no effect on the direction of John Hancock i.e., John Hancock and Rbc China go up and down completely randomly.
Pair Corralation between John Hancock and Rbc China
If you would invest 994.00 in Rbc China Equity on June 7, 2025 and sell it today you would earn a total of 142.00 from holding Rbc China Equity or generate 14.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Money vs. Rbc China Equity
Performance |
| Timeline |
| John Hancock Money |
| Rbc China Equity |
John Hancock and Rbc China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Rbc China
The main advantage of trading using opposite John Hancock and Rbc China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Rbc China 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 Rbc China will offset losses from the drop in Rbc China's long position.| John Hancock vs. Vanguard Total Stock | John Hancock vs. Vanguard 500 Index | John Hancock vs. Vanguard Total Stock | John Hancock vs. Vanguard Total Stock |
| Rbc China vs. Prudential Government Money | Rbc China vs. Dws Government Money | Rbc China vs. Aig Government Money | Rbc China vs. John Hancock Money |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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