FLC vs PDT: Correlation
Measured on weekly returns over the past three years, Flaherty & Crumrine Total Return Fund Inc (FLC) and John Hancock Premium Dividend Fund (PDT) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and PDT?
On 3 years of weekly data the FLC/PDT correlation comes out at 0.74, strong. Lately the two have drifted apart, with the 1-year correlation at 0.54 versus 0.74 over 3 years. The 5-year figure is 0.68, and annualized covariance runs at 134.0 %².
Among the 22 assets we track against FLC, PDT ranks #5 by 3-year correlation. Neither side won the trailing year by much: +3.8% against +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.
FLC vs PDT: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | PDT (John Hancock Premium Dividend Fund) | |
|---|---|---|
| 1-year return | +3.8% | +1.3% |
| 5-year return | -0.2% | +12.6% |
| Volatility (ann.) | 11.3% | 15.8% |
| Beta vs S&P 500 | 0.48 | 0.52 |
| Max drawdown (3Y) | -10.5% | -11.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.3 | 4.9 |
| Dividend yield | 7.25% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | PDT |
|---|---|---|
| 2022 | -25.1% | -16.3% |
| 2023 | -0.8% | -9.5% |
| 2024 | +23.1% | +30.0% |
| 2025 | +12.4% | +7.7% |
| 2026 | -0.4% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and PDT good diversifiers for each other?
Only partially. A correlation of 0.74 means FLC and PDT 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 FLC and PDT?
The FLC/PDT correlation stands at 0.74 on a 3-year window (1 year: 0.54, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is PDT a good diversifier for FLC?
Only partially. A correlation of 0.74 means FLC and PDT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FLC correlations · PDT correlations
