JHS vs NZF: Correlation
John Hancock Income Securities Trust (JHS) and Nuveen Municipal Credit Income Fund (NZF) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JHS and NZF?
Over the past 3 years, JHS and NZF moved with a correlation of 0.65, which is strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.65). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 68.0 %².
Among the 11 assets we track against JHS, NZF ranks #4 by 3-year correlation. Over the last 12 months NZF came out ahead by 11.0 percentage points (-0.2% against +10.8%).
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.
JHS vs NZF: side by side
| JHS (John Hancock Income Securities Trust) | NZF (Nuveen Municipal Credit Income Fund) | |
|---|---|---|
| 1-year return | -0.2% | +10.8% |
| 5-year return | -10.6% | -4.1% |
| Volatility (ann.) | 9.0% | 11.6% |
| Beta vs S&P 500 | 0.23 | 0.30 |
| Max drawdown (3Y) | -8.7% | -12.4% |
| Market cap | $0.1B | $2.4B |
| P/E (trailing) | 14.0 | 13.5 |
| Dividend yield | 5.59% | 7.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JHS | NZF |
|---|---|---|
| 2022 | -26.5% | -25.5% |
| 2023 | +6.1% | +2.5% |
| 2024 | +8.0% | +10.1% |
| 2025 | +10.2% | +11.8% |
| 2026 | -4.3% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JHS and NZF good diversifiers for each other?
To a limited degree. At 0.65 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 JHS and NZF?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.49 over the last year and 0.63 over 5 years.
Is NZF a good diversifier for JHS?
To a limited degree. At 0.65 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 0.65 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jhs-vs-nzf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jhs-vs-nzf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JHS correlations · NZF correlations
