ACP vs HPF: Correlation
Measured on weekly returns over the past three years, abrdn Income Credit Strategies Fund (ACP) and John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACP and HPF?
Across a 3-year window, the weekly returns of ACP and HPF correlate at 0.66, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 155.4 %².
HPF is one of the assets that tracks ACP most closely: it ranks #2 out of the 12 assets we track against ACP. Neither side won the trailing year by much: +1.1% against +5.6%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ACP vs HPF: side by side
| ACP (abrdn Income Credit Strategies Fund) | HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | |
|---|---|---|
| 1-year return | +1.1% | +5.6% |
| 5-year return | +0.6% | +6.9% |
| Volatility (ann.) | 16.0% | 14.7% |
| Beta vs S&P 500 | 0.59 | 0.53 |
| Max drawdown (3Y) | -19.0% | -16.9% |
| Market cap | $0.6B | $0.3B |
| P/E (trailing) | 7.7 | 12.0 |
| Dividend yield | 18.53% | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACP | HPF |
|---|---|---|
| 2022 | -22.9% | -18.4% |
| 2023 | +19.3% | +10.8% |
| 2024 | +4.8% | +14.5% |
| 2025 | +6.6% | +6.4% |
| 2026 | +4.9% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACP and HPF good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ACP and HPF?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.63 over the last year and 0.49 over 5 years.
Is HPF a good diversifier for ACP?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acp-vs-hpf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acp-vs-hpf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACP correlations · HPF correlations
