HPF vs VGI: Correlation
John Hancock Pfd Income Fund II Pfd Income Fund II (HPF) and Virtus Global Multi-Sector Income Fund (VGI) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPF and VGI?
Over the past 3 years, HPF and VGI moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 109.4 %².
In HPF's tracked universe of 15 assets, VGI sits right near the top at #2. Neither side won the trailing year by much: +5.6% against +3.8%.
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 VGI: side by side
| HPF (John Hancock Pfd Income Fund II Pfd Income Fund II) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +5.6% | +3.8% |
| 5-year return | +6.9% | +11.9% |
| Volatility (ann.) | 14.7% | 10.3% |
| Beta vs S&P 500 | 0.53 | 0.38 |
| Max drawdown (3Y) | -16.9% | -11.3% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 12.0 | 7.8 |
| Dividend yield | 7.09% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPF | VGI |
|---|---|---|
| 2022 | -18.4% | -22.3% |
| 2023 | +10.8% | +13.4% |
| 2024 | +14.5% | +10.4% |
| 2025 | +6.4% | +16.1% |
| 2026 | +3.4% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPF and VGI good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HPF and VGI?
As of 2026-08-27, the correlation of weekly returns between HPF and VGI is 0.73 over 3 years, 0.69 over 1 year and 0.69 over 5 years.
Is VGI a good diversifier for HPF?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 mean?
A reading of 0.73 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
$ curl https://www.pairbook.io/api/v1/pairs/hpf-vs-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hpf-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPF correlations · VGI correlations
