JHS vs SPY: Correlation
How closely do John Hancock Income Securities Trust (JHS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JHS and SPY?
Across a 3-year window, the weekly returns of JHS and SPY correlate at 0.36, moderate. The past 12 months show a tighter link (0.46) than the 3-year average (0.36). Stretching to 5 years gives 0.43, with an annualized covariance of 47.3 %².
SPY is close to the least connected end of JHS's tracked universe, ranking #7 of 11. The last year tells two different stories: SPY led by 20.8 percentage points, -0.2% for JHS against +20.6% for SPY. Note the risk asymmetry: SPY runs 1.6 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 SPY: side by side
| JHS (John Hancock Income Securities Trust) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -0.2% | +20.6% |
| 5-year return | -10.6% | +82.4% |
| Volatility (ann.) | 9.0% | 14.5% |
| Beta vs S&P 500 | 0.23 | 1.00 |
| Max drawdown (3Y) | -8.7% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 5.59% | 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 | JHS | SPY |
|---|---|---|
| 2022 | -26.5% | -18.2% |
| 2023 | +6.1% | +26.2% |
| 2024 | +8.0% | +24.9% |
| 2025 | +10.2% | +17.7% |
| 2026 | -4.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JHS and SPY good diversifiers for each other?
Reasonably. At 0.36, JHS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between JHS and SPY?
The JHS/SPY correlation stands at 0.36 on a 3-year window (1 year: 0.46, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for JHS?
Reasonably. At 0.36, JHS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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: JHS correlations · SPY correlations
