JHI vs SPY: Correlation
How closely do John Hancock Investors Trust (JHI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JHI and SPY?
Across a 3-year window, the weekly returns of JHI and SPY correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 77.0 %².
By 3-year correlation, SPY places #26 of the 33 assets tracked against JHI. The last year tells two different stories: SPY led by 18.3 percentage points, +2.3% for JHI against +20.6% for SPY. Risk is not evenly split, since SPY carries 1.6 times the volatility of the other side.
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.
JHI vs SPY: side by side
| JHI (John Hancock Investors Trust) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +2.3% | +20.6% |
| 5-year return | +3.7% | +82.4% |
| Volatility (ann.) | 9.3% | 14.5% |
| Beta vs S&P 500 | 0.37 | 1.00 |
| Max drawdown (3Y) | -11.2% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 8.6 | – |
| Dividend yield | 9.37% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | JHI | SPY |
|---|---|---|
| 2022 | -29.5% | -18.2% |
| 2023 | +10.6% | +26.2% |
| 2024 | +14.4% | +24.9% |
| 2025 | +9.1% | +17.7% |
| 2026 | +1.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JHI and SPY good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JHI and SPY?
As of 2026-08-27, the correlation of weekly returns between JHI and SPY is 0.58 over 3 years, 0.64 over 1 year and 0.61 over 5 years.
Is SPY a good diversifier for JHI?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JHI correlations · SPY correlations
