HPF vs JHI: Correlation
John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) and John Hancock Investors Trust (JHI) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPF and JHI?
On 3 years of weekly data the HPF/JHI correlation comes out at 0.72, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 98.4 %².
Few assets follow HPF as closely as JHI, which ranks #3 of 15 tracked partners. Neither side won the trailing year by much: +5.6% against +2.3%. One caveat on sizing: HPF is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 JHI: side by side
| HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | JHI (John Hancock Investors Trust) | |
|---|---|---|
| 1-year return | +5.6% | +2.3% |
| 5-year return | +6.9% | +3.7% |
| Volatility (ann.) | 14.7% | 9.3% |
| Beta vs S&P 500 | 0.53 | 0.37 |
| Max drawdown (3Y) | -16.9% | -11.2% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.0 | 8.6 |
| Dividend yield | 7.09% | 9.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPF | JHI |
|---|---|---|
| 2022 | -18.4% | -29.5% |
| 2023 | +10.8% | +10.6% |
| 2024 | +14.5% | +14.4% |
| 2025 | +6.4% | +9.1% |
| 2026 | +3.4% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPF and JHI good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HPF and JHI?
The HPF/JHI correlation stands at 0.72 on a 3-year window (1 year: 0.78, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is JHI a good diversifier for HPF?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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/hpf-vs-jhi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hpf-vs-jhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPF correlations · JHI correlations
