John Hancock Premium Dividend Fund (PDT) — Stock Correlations & Overview
Over the past year, PDT has moved most closely with FCEF, HNDL, HTD. Explore the stocks most correlated and inversely correlated with PDT below, along with its price, financials, and company profile.
Stocks correlated with PDT
Correlation of daily returns. Higher positive values move with PDT; negative values move opposite it. Informational only, not investment advice.
Most correlated with PDT
| Symbol | Company | Correlation |
|---|---|---|
| FCEF | First Trust Exchange-Traded Fund VIII First Trust Income Opportunities ETF | 0.64 |
| HNDL | Strategy Shares Nasdaq 7HANDL Index ETF | 0.62 |
| HTD | John Hancock Tax-Advantaged Dividend Income Fund | 0.62 |
| CCEF | Calamos CEF Income & Arbitrage ETF | 0.60 |
| DPG | Duff & Phelps Utility and Infrastructure Fund Inc. | 0.60 |
Frequently asked questions about PDT correlations
- Which stocks are most correlated with PDT?
- Based on one year of daily returns, the stocks most correlated with John Hancock Premium Dividend Fund (PDT) are FCEF (0.64), HNDL (0.62) and HTD (0.62). 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 PDT?
- Over the past year, the stocks most inversely correlated with John Hancock Premium Dividend Fund (PDT) are SBB (-0.53), SDD (-0.51) and MYY (-0.50). 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 PDT correlations calculated?
- We compute the correlation of daily returns between PDT 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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