Which stocks are most correlated with HPF?

Based on one year of daily returns, the stocks most correlated with John Hancock Preferred Income Fund II (HPF) are HPI (0.76), HPS (0.74) and LDP (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with HPF?

Over the past year, the stocks most inversely correlated with John Hancock Preferred Income Fund II (HPF) are SPXS (-0.52), SPXU (-0.52) and SPDN (-0.52). A negative correlation means the two stocks have tended to move in opposite directions.

John Hancock Preferred Income Fund II (HPF) — Stock Correlations & Overview

Over the past year, HPF has moved most closely with HPI, HPS, LDP. Explore the stocks most correlated and inversely correlated with HPF below, along with its price, financials, and company profile.

Stocks correlated with HPF

Correlation of daily returns. Higher positive values move with HPF; negative values move opposite it. Informational only, not investment advice.

Most correlated with HPF

Symbol	Company	Correlation
HPI	John Hancock Preferred Income Fund	0.76
HPS	John Hancock Preferred Income Fund III	0.74
LDP	COHEN & STEERS LIMITED DURATION PREFERRED AND INCOME FUND INC	0.64
DFP	FLAHERTY & CRUMRINE DYNAMIC PREFERRED AND INCOME FUND INCORPORATED	0.62
FCEF	First Trust Exchange-Traded Fund VIII First Trust Income Opportunities ETF	0.62

Most inversely correlated with HPF

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.52
SPXU	ProShares UltraPro Short S&P 500	-0.52
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.52
SDS	ProShares UltraShort S&P500	-0.52
SH	ProShares Short S&P500	-0.51

Frequently asked questions about HPF correlations

Which stocks are most correlated with HPF?: Based on one year of daily returns, the stocks most correlated with John Hancock Preferred Income Fund II (HPF) are HPI (0.76), HPS (0.74) and LDP (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with HPF?: Over the past year, the stocks most inversely correlated with John Hancock Preferred Income Fund II (HPF) are SPXS (-0.52), SPXU (-0.52) and SPDN (-0.52). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these HPF correlations calculated?: We compute the correlation of daily returns between HPF and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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