Correlation Between John Hancock and Clifford Capital
Can any of the company-specific risk be diversified away by investing in both John Hancock and Clifford Capital 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 Clifford Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between John Hancock Income and Clifford Capital Partners, you can compare the effects of market volatilities on John Hancock and Clifford Capital 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 Clifford Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of John Hancock and Clifford Capital.
Diversification Opportunities for John Hancock and Clifford Capital
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between John and Clifford is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding John Hancock Income and Clifford Capital Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clifford Capital Partners 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 Income are associated (or correlated) with Clifford Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clifford Capital Partners has no effect on the direction of John Hancock i.e., John Hancock and Clifford Capital go up and down completely randomly.
Pair Corralation between John Hancock and Clifford Capital
Considering the 90-day investment horizon John Hancock is expected to generate 1.86 times less return on investment than Clifford Capital. But when comparing it to its historical volatility, John Hancock Income is 1.49 times less risky than Clifford Capital. It trades about 0.05 of its potential returns per unit of risk. Clifford Capital Partners is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,206 in Clifford Capital Partners on September 3, 2025 and sell it today you would earn a total of 75.00 from holding Clifford Capital Partners or generate 3.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
John Hancock Income vs. Clifford Capital Partners
Performance |
| Timeline |
| John Hancock Income |
| Clifford Capital Partners |
John Hancock and Clifford Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with John Hancock and Clifford Capital
The main advantage of trading using opposite John Hancock and Clifford Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if John Hancock position performs unexpectedly, Clifford Capital 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 Clifford Capital will offset losses from the drop in Clifford Capital's long position.| John Hancock vs. Network Media Group | John Hancock vs. Tencent Music Entertainment | John Hancock vs. Sphere Entertainment Co | John Hancock vs. Connected Media Tech |
| Clifford Capital vs. Forum Real Estate | Clifford Capital vs. Virtus Real Estate | Clifford Capital vs. Aew Real Estate | Clifford Capital vs. Pender Real Estate |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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