DNP vs PDT: Correlation
DNP Select Income Fund, Inc. (DNP) and John Hancock Premium Dividend Fund (PDT) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNP and PDT?
Over the past 3 years, DNP and PDT moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.55 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 128.9 %².
In DNP's tracked universe of 10 assets, PDT sits right near the top at #3. Correlation aside, the last 12 months split them widely, with DNP ahead by 17.5 points (+18.8% versus +1.3%).
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 PDT: side by side
| DNP (DNP Select Income Fund, Inc.) | PDT (John Hancock Premium Dividend Fund) | |
|---|---|---|
| 1-year return | +18.8% | +1.3% |
| 5-year return | +47.1% | +12.6% |
| Volatility (ann.) | 13.3% | 15.8% |
| Beta vs S&P 500 | 0.28 | 0.52 |
| Max drawdown (3Y) | -16.2% | -11.8% |
| Market cap | $4.1B | – |
| P/E (trailing) | 5.9 | 4.9 |
| Dividend yield | 7.08% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNP | PDT |
|---|---|---|
| 2022 | +11.0% | -16.3% |
| 2023 | -18.6% | -9.5% |
| 2024 | +13.4% | +30.0% |
| 2025 | +22.6% | +7.7% |
| 2026 | +14.1% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNP and PDT good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DNP and PDT?
As of 2026-08-27, the correlation of weekly returns between DNP and PDT is 0.61 over 3 years, 0.55 over 1 year and 0.60 over 5 years.
Is PDT a good diversifier for DNP?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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/dnp-vs-pdt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dnp-vs-pdt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNP correlations · PDT correlations
