Correlation Between Ambrus Core and John Hancock
Can any of the company-specific risk be diversified away by investing in both Ambrus Core 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 Ambrus Core and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ambrus Core Bond and John Hancock Financial, you can compare the effects of market volatilities on Ambrus Core 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 Ambrus Core with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ambrus Core and John Hancock.
Diversification Opportunities for Ambrus Core and John Hancock
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ambrus and John is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Ambrus Core Bond and John Hancock Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Financial and Ambrus Core 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 Ambrus Core Bond 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 Financial has no effect on the direction of Ambrus Core i.e., Ambrus Core and John Hancock go up and down completely randomly.
Pair Corralation between Ambrus Core and John Hancock
Assuming the 90 days horizon Ambrus Core Bond is expected to generate 0.09 times more return on investment than John Hancock. However, Ambrus Core Bond is 10.81 times less risky than John Hancock. It trades about 0.06 of its potential returns per unit of risk. John Hancock Financial is currently generating about -0.05 per unit of risk. If you would invest 1,006 in Ambrus Core Bond on September 8, 2025 and sell it today you would earn a total of 5.00 from holding Ambrus Core Bond or generate 0.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ambrus Core Bond vs. John Hancock Financial
Performance |
| Timeline |
| Ambrus Core Bond |
| John Hancock Financial |
Ambrus Core and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ambrus Core and John Hancock
The main advantage of trading using opposite Ambrus Core and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ambrus Core 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.| Ambrus Core vs. Maryland Tax Free Bond | Ambrus Core vs. Western Asset Municipal | Ambrus Core vs. Gmo High Yield | Ambrus Core vs. Pace Strategic Fixed |
| John Hancock vs. Ultrasmall Cap Profund Ultrasmall Cap | John Hancock vs. Small Cap Value Profund | John Hancock vs. Ultramid Cap Profund Ultramid Cap | John Hancock vs. Small Cap Growth Profund |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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