DDT vs HPF: Correlation
Dillard's Capital Trust I (DDT) and John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDT and HPF?
On 3 years of weekly data the DDT/HPF correlation comes out at 0.36, moderate. The past 12 months show a weaker link (0.04) than the 3-year average (0.36). The 5-year figure is 0.34, and annualized covariance runs at 32.0 %².
Within DDT's tracked universe of 12 assets, HPF comes in at #5 by 3-year correlation. Their 12-month results are close: +8.3% for DDT against +5.6% for HPF. Note the risk asymmetry: HPF runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DDT vs HPF: side by side
| DDT (Dillard's Capital Trust I) | HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | |
|---|---|---|
| 1-year return | +8.3% | +5.6% |
| 5-year return | +43.4% | +6.9% |
| Volatility (ann.) | 6.1% | 14.7% |
| Beta vs S&P 500 | 0.11 | 0.53 |
| Max drawdown (3Y) | -4.6% | -16.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 12.0 |
| Dividend yield | – | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DDT | HPF |
|---|---|---|
| 2022 | -3.3% | -18.4% |
| 2023 | +9.8% | +10.8% |
| 2024 | +7.4% | +14.5% |
| 2025 | +9.5% | +6.4% |
| 2026 | +6.0% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDT and HPF good diversifiers for each other?
Reasonably. At 0.36, DDT and HPF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DDT and HPF?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.04 over the last year and 0.34 over 5 years.
Is HPF a good diversifier for DDT?
Reasonably. At 0.36, DDT and HPF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/ddt-vs-hpf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ddt-vs-hpf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DDT correlations · HPF correlations
