AD vs HPF: Correlation
How closely do Array Digital Infrastructure, Inc. (AD) and John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AD and HPF?
On 3 years of weekly data the AD/HPF correlation comes out at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 250.4 %².
Within AD's tracked universe of 13 assets, HPF comes in at #4 by 3-year correlation. Over the last 12 months HPF came out ahead by 5.9 percentage points (-0.3% against +5.6%). Risk is not evenly split, since AD carries 2.9 times the volatility of the other side.
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.
AD vs HPF: side by side
| AD (Array Digital Infrastructure, Inc.) | HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | |
|---|---|---|
| 1-year return | -0.3% | +5.6% |
| 5-year return | +142.7% | +6.9% |
| Volatility (ann.) | 42.1% | 14.7% |
| Beta vs S&P 500 | 0.68 | 0.53 |
| Max drawdown (3Y) | -32.0% | -16.9% |
| Market cap | $3.1B | $0.3B |
| P/E (trailing) | 4.6 | 12.0 |
| Dividend yield | 30.85% | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AD | HPF |
|---|---|---|
| 2022 | -33.9% | -18.4% |
| 2023 | +99.2% | +10.8% |
| 2024 | +51.0% | +14.5% |
| 2025 | +22.6% | +6.4% |
| 2026 | +1.0% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AD and HPF good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AD and HPF?
As of 2026-08-27, the correlation of weekly returns between AD and HPF is 0.41 over 3 years, 0.39 over 1 year and 0.29 over 5 years.
Is HPF a good diversifier for AD?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ad-vs-hpf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ad-vs-hpf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AD correlations · HPF correlations
