Correlation Between Virtus Seix and John Hancock
Can any of the company-specific risk be diversified away by investing in both Virtus Seix 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 Virtus Seix and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Virtus Seix Government and John Hancock Variable, you can compare the effects of market volatilities on Virtus Seix 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 Virtus Seix with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Virtus Seix and John Hancock.
Diversification Opportunities for Virtus Seix and John Hancock
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Virtus and John is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Seix Government and John Hancock Variable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Variable and Virtus Seix 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 Virtus Seix Government 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 Variable has no effect on the direction of Virtus Seix i.e., Virtus Seix and John Hancock go up and down completely randomly.
Pair Corralation between Virtus Seix and John Hancock
Assuming the 90 days horizon Virtus Seix is expected to generate 1.17 times less return on investment than John Hancock. But when comparing it to its historical volatility, Virtus Seix Government is 1.26 times less risky than John Hancock. It trades about 0.17 of its potential returns per unit of risk. John Hancock Variable is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,158 in John Hancock Variable on August 13, 2025 and sell it today you would earn a total of 11.00 from holding John Hancock Variable or generate 0.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Virtus Seix Government vs. John Hancock Variable
Performance |
| Timeline |
| Virtus Seix Government |
| John Hancock Variable |
Virtus Seix and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Virtus Seix and John Hancock
The main advantage of trading using opposite Virtus Seix and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Virtus Seix 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.| Virtus Seix vs. Icon Bond Fund | Virtus Seix vs. Thornburg Strategic Municipal | Virtus Seix vs. American Funds Tax Exempt | Virtus Seix vs. Fam Small Cap |
| John Hancock vs. Fidelity Sai Inflationfocused | John Hancock vs. Tiaa Cref Inflation Link | John Hancock vs. Loomis Sayles Inflation | John Hancock vs. Cref Inflation Linked 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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