HTD vs NEE: Correlation
Measured on weekly returns over the past three years, John Hancock Tax Advantaged Dividend Income Fund (HTD) and NextEra Energy (NEE) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTD and NEE?
Across a 3-year window, the weekly returns of HTD and NEE correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.57, with an annualized covariance of 236.0 %².
Within HTD's tracked universe of 23 assets, NEE comes in at #12 by 3-year correlation. Over the last 12 months NEE came out ahead by 5.2 percentage points (+11.0% against +16.2%). One caveat on sizing: NEE is 1.7 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.
HTD vs NEE: side by side
| HTD (John Hancock Tax Advantaged Dividend Income Fund) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +11.0% | +16.2% |
| 5-year return | +50.6% | +12.9% |
| Volatility (ann.) | 15.9% | 26.5% |
| Beta vs S&P 500 | 0.43 | 0.28 |
| Max drawdown (3Y) | -15.7% | -28.8% |
| Market cap | $0.9B | $174.1B |
| P/E (trailing) | 5.3 | 18.9 |
| Dividend yield | 7.30% | 2.82% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | HTD | NEE |
|---|---|---|
| 2022 | -6.2% | -8.5% |
| 2023 | -9.9% | -25.3% |
| 2024 | +25.7% | +21.5% |
| 2025 | +15.9% | +15.5% |
| 2026 | +12.1% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTD and NEE good diversifiers for each other?
Only partially. A correlation of 0.56 means HTD and NEE 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 HTD and NEE?
As of 2026-08-27, the correlation of weekly returns between HTD and NEE is 0.56 over 3 years, 0.46 over 1 year and 0.57 over 5 years.
Is NEE a good diversifier for HTD?
Only partially. A correlation of 0.56 means HTD and NEE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 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/htd-vs-nee.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/htd-vs-nee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTD correlations · NEE correlations
