>

Correlation Between Jpmorgan Smartretirement and John Hancock

Analyzing existing cross correlation between Jpmorgan Smartretirement 2035 Fund R5 Class and John Hancock Funds II Multimana. You can compare the effects of market volatilities on Jpmorgan Smartretirement 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 Smartretirement with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jpmorgan Smartretirement and John Hancock.
Symbolsvs
Compare

Comparative Performance

Jpmorgan Smartretirement  
00

Risk-Adjusted Fund Performance

Over the last 30 days Jpmorgan Smartretirement 2035 Fund R5 Class has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, Jpmorgan Smartretirement is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
John Hancock Funds  
00

Risk-Adjusted Fund Performance

Over the last 30 days John Hancock Funds II Multimana has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, John Hancock is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Jpmorgan Smartretirement and John Hancock Volatility Contrast

 Predicted Return Density 
    
  Returns 

Jpmorgan Smartretirement 2035   vs.  John Hancock Funds II Multiman

 Performance (%) 
    
  Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jpmorgan Smartretirement 2035 Fund R5 Class is expected to generate 0.75 times more return on investment than John Hancock. However, Jpmorgan Smartretirement 2035 Fund R5 Class is 1.34 times less risky than John Hancock. It trades about -0.03 of its potential returns per unit of risk. John Hancock Funds II Multimana is currently generating about -0.04 per unit of risk. If you would invest  2,110  in Jpmorgan Smartretirement 2035 Fund R5 Class on January 20, 2020 and sell it today you would lose (44.00)  from holding Jpmorgan Smartretirement 2035 Fund R5 Class or give up 2.09% of portfolio value over 30 days.

Pair Corralation between Jpmorgan Smartretirement and John Hancock

0.47
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification Opportunities for Jpmorgan Smartretirement and John Hancock

Jpmorgan Smartretirement 2035  diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Smartretirement 2035 and John Hancock Funds II Multiman in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Funds and Jpmorgan Smartretirement 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 Smartretirement 2035 Fund R5 Class 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 Smartretirement i.e. Jpmorgan Smartretirement and John Hancock go up and down completely randomly.
Check out your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.