HPF vs QQQ: Correlation
Measured on weekly returns over the past three years, John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPF and QQQ?
On 3 years of weekly data the HPF/QQQ correlation comes out at 0.43, moderate. The past 12 months show a tighter link (0.73) than the 3-year average (0.43). The 5-year figure is 0.50, and annualized covariance runs at 123.6 %².
Among the 15 assets we track against HPF, QQQ ranks #9 by 3-year correlation. The last year tells two different stories: QQQ led by 20.7 percentage points, +5.6% for HPF against +26.3% for QQQ.
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 QQQ: side by side
| HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.6% | +26.3% |
| 5-year return | +6.9% | +95.4% |
| Volatility (ann.) | 14.7% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -16.9% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.0 | – |
| Dividend yield | 7.09% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | HPF | QQQ |
|---|---|---|
| 2022 | -18.4% | -32.6% |
| 2023 | +10.8% | +54.9% |
| 2024 | +14.5% | +25.6% |
| 2025 | +6.4% | +20.8% |
| 2026 | +3.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPF and QQQ good diversifiers for each other?
Reasonably. At 0.43, HPF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HPF and QQQ?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.73 over the last year and 0.50 over 5 years.
Is QQQ a good diversifier for HPF?
Reasonably. At 0.43, HPF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: HPF correlations · QQQ correlations
