DNP vs HTD: Correlation
Measured on weekly returns over the past three years, DNP Select Income Fund, Inc. (DNP) and John Hancock Tax Advantaged Dividend Income Fund (HTD) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNP and HTD?
On 3 years of weekly data the DNP/HTD correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 135.7 %².
In DNP's tracked universe of 10 assets, HTD sits right near the top at #1. The trailing year gives DNP the advantage: +18.8% versus +11.0%, a 7.8-point spread.
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.
DNP vs HTD: side by side
| DNP (DNP Select Income Fund, Inc.) | HTD (John Hancock Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +18.8% | +11.0% |
| 5-year return | +47.1% | +50.6% |
| Volatility (ann.) | 13.3% | 15.9% |
| Beta vs S&P 500 | 0.28 | 0.43 |
| Max drawdown (3Y) | -16.2% | -15.7% |
| Market cap | $4.1B | $0.9B |
| P/E (trailing) | 5.9 | 5.3 |
| Dividend yield | 7.08% | 7.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNP | HTD |
|---|---|---|
| 2022 | +11.0% | -6.2% |
| 2023 | -18.6% | -9.9% |
| 2024 | +13.4% | +25.7% |
| 2025 | +22.6% | +15.9% |
| 2026 | +14.1% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNP and HTD good diversifiers for each other?
Only partially. A correlation of 0.64 means DNP and HTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DNP and HTD?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.60 over the last year and 0.64 over 5 years.
Is HTD a good diversifier for DNP?
Only partially. A correlation of 0.64 means DNP and HTD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DNP correlations · HTD correlations
