Correlation Between Jpmorgan Small and John Hancock
Can any of the company-specific risk be diversified away by investing in both Jpmorgan Small and John Hancock 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 Jpmorgan Small and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jpmorgan Small Cap and John Hancock Funds, you can compare the effects of market volatilities on Jpmorgan Small and John Hancock 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 Jpmorgan Small with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jpmorgan Small and John Hancock.
Diversification Opportunities for Jpmorgan Small and John Hancock
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jpmorgan and John is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Small Cap and John Hancock Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Funds and Jpmorgan Small 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 Jpmorgan Small Cap are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Funds has no effect on the direction of Jpmorgan Small i.e., Jpmorgan Small and John Hancock go up and down completely randomly.
Pair Corralation between Jpmorgan Small and John Hancock
Assuming the 90 days horizon Jpmorgan Small Cap is expected to under-perform the John Hancock. In addition to that, Jpmorgan Small is 3.37 times more volatile than John Hancock Funds. It trades about -0.04 of its total potential returns per unit of risk. John Hancock Funds is currently generating about 0.14 per unit of volatility. If you would invest 1,148 in John Hancock Funds on September 3, 2025 and sell it today you would earn a total of 32.00 from holding John Hancock Funds or generate 2.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jpmorgan Small Cap vs. John Hancock Funds
Performance |
| Timeline |
| Jpmorgan Small Cap |
| John Hancock Funds |
Jpmorgan Small and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jpmorgan Small and John Hancock
The main advantage of trading using opposite Jpmorgan Small and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jpmorgan Small position performs unexpectedly, John Hancock 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 John Hancock will offset losses from the drop in John Hancock's long position.| Jpmorgan Small vs. Lord Abbett Diversified | Jpmorgan Small vs. Elfun Diversified Fund | Jpmorgan Small vs. Fulcrum Diversified Absolute | Jpmorgan Small vs. Pimco Diversified Income |
| John Hancock vs. Global Real Estate | John Hancock vs. Fidelity Real Estate | John Hancock vs. Nuveen Real Estate | John Hancock vs. Virtus 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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