HEQ vs WYNN: Correlation
How closely do John Hancock Diversified Income Fund (HEQ) and Wynn Resorts (WYNN) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HEQ and WYNN?
Over the past 3 years, HEQ and WYNN moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 180.8 %².
Out of 13 assets tracked against HEQ, WYNN lands near the bottom at #9. The last year tells two different stories: HEQ led by 44.1 percentage points, +20.8% for HEQ against -23.3% for WYNN. Note the risk asymmetry: WYNN runs 2.8 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.
HEQ vs WYNN: side by side
| HEQ (John Hancock Diversified Income Fund) | WYNN (Wynn Resorts) | |
|---|---|---|
| 1-year return | +20.8% | -23.3% |
| 5-year return | +43.5% | -2.9% |
| Volatility (ann.) | 12.3% | 34.7% |
| Beta vs S&P 500 | 0.59 | 0.88 |
| Max drawdown (3Y) | -11.5% | -37.8% |
| Market cap | $0.1B | $9.6B |
| P/E (trailing) | 7.6 | 22.4 |
| Dividend yield | 0.00% | 1.03% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | HEQ | WYNN |
|---|---|---|
| 2022 | -3.1% | -3.0% |
| 2023 | -3.1% | +11.3% |
| 2024 | +11.7% | -4.4% |
| 2025 | +15.6% | +41.0% |
| 2026 | +15.5% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HEQ and WYNN good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HEQ and WYNN?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.33 over the last year and 0.37 over 5 years.
Is WYNN a good diversifier for HEQ?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/heq-vs-wynn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/heq-vs-wynn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HEQ correlations · WYNN correlations
