HPF vs HTD: Correlation
How closely do John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) and John Hancock Tax Advantaged Dividend Income Fund (HTD) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPF and HTD?
Across a 3-year window, the weekly returns of HPF and HTD correlate at 0.71, strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.71 over 3 years. Stretching to 5 years gives 0.75, with an annualized covariance of 165.5 %².
By 3-year correlation, HTD places #5 of the 15 assets tracked against HPF. On 12-month performance HTD holds a 5.4-point edge, +5.6% against +11.0%.
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.
HPF vs HTD: side by side
| HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | HTD (John Hancock Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +5.6% | +11.0% |
| 5-year return | +6.9% | +50.6% |
| Volatility (ann.) | 14.7% | 15.9% |
| Beta vs S&P 500 | 0.53 | 0.43 |
| Max drawdown (3Y) | -16.9% | -15.7% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | 12.0 | 5.3 |
| Dividend yield | 7.09% | 7.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPF | HTD |
|---|---|---|
| 2022 | -18.4% | -6.2% |
| 2023 | +10.8% | -9.9% |
| 2024 | +14.5% | +25.7% |
| 2025 | +6.4% | +15.9% |
| 2026 | +3.4% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPF and HTD good diversifiers for each other?
Only partially. A correlation of 0.71 means HPF 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 HPF and HTD?
As of 2026-08-27, the correlation of weekly returns between HPF and HTD is 0.71 over 3 years, 0.42 over 1 year and 0.75 over 5 years.
Is HTD a good diversifier for HPF?
Only partially. A correlation of 0.71 means HPF 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 0.71 mean?
A reading of 0.71 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: HPF correlations · HTD correlations
