JHS vs SHY: Correlation
John Hancock Income Securities Trust (JHS) and iShares 1-3 Year Treasury Bond ETF (SHY) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JHS and SHY?
Over the past 3 years, JHS and SHY moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 7.2 %².
By 3-year correlation, SHY places #6 of the 11 assets tracked against JHS. Neither side won the trailing year by much: -0.2% against +2.5%. Note the risk asymmetry: JHS runs 5.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SHY: side by side
| JHS (John Hancock Income Securities Trust) | SHY (iShares 1-3 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | -0.2% | +2.5% |
| 5-year return | -10.6% | +9.6% |
| Volatility (ann.) | 9.0% | 1.6% |
| Beta vs S&P 500 | 0.23 | 0.00 |
| Max drawdown (3Y) | -8.7% | -1.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 5.59% | 3.65% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.1B |
| Sector / category | US Listed | ETF · Bonds |
SHY, iShares's Short Government fund, carries $25.1B under management, a 0.15% expense ratio, a 3.65% trailing dividend yield.
Year-by-year returns
| Year | JHS | SHY |
|---|---|---|
| 2022 | -26.5% | -3.9% |
| 2023 | +6.1% | +4.2% |
| 2024 | +8.0% | +3.9% |
| 2025 | +10.2% | +5.0% |
| 2026 | -4.3% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JHS and SHY good diversifiers for each other?
Only partially. A correlation of 0.51 means JHS and SHY 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 JHS and SHY?
As of 2026-08-27, the correlation of weekly returns between JHS and SHY is 0.51 over 3 years, 0.54 over 1 year and 0.47 over 5 years.
Is SHY a good diversifier for JHS?
Only partially. A correlation of 0.51 means JHS and SHY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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-shy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jhs-vs-shy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JHS correlations · SHY correlations
