HPF vs KXIN: Correlation
John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) and Kaixin Holdings (KXIN) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPF and KXIN?
Across a 3-year window, the weekly returns of HPF and KXIN correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.39 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 1544.0 %².
Out of 15 assets tracked against HPF, KXIN lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months HPF outperformed by 105.1 percentage points (+5.6% for HPF against -99.5% for KXIN). Note the risk asymmetry: KXIN runs 18.6 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.
HPF vs KXIN: side by side
| HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | KXIN (Kaixin Holdings) | |
|---|---|---|
| 1-year return | +5.6% | -99.5% |
| 5-year return | +6.9% | -100.0% |
| Volatility (ann.) | 14.7% | 272.9% |
| Beta vs S&P 500 | 0.53 | 2.71 |
| Max drawdown (3Y) | -16.9% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.0 | – |
| Dividend yield | 7.09% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPF | KXIN |
|---|---|---|
| 2022 | -18.4% | -74.3% |
| 2023 | +10.8% | -80.0% |
| 2024 | +14.5% | -97.1% |
| 2025 | +6.4% | -88.6% |
| 2026 | +3.4% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPF and KXIN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HPF and KXIN?
The HPF/KXIN correlation stands at 0.39 on a 3-year window (1 year: 0.12, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is KXIN a good diversifier for HPF?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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.
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Related comparisons
Hubs: HPF correlations · KXIN correlations
