John Hancock Preferred Income Fund III (HPS) Correlation Distribution
Across 6,809 rolling correlation observations between John Hancock Preferred Income Fund III (HPS) and other NASDAQ-listed stocks, 72.5% are positive and 27.5% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.32, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 26.5% and strong negative correlations (≤−0.7) for 1%.
- Total observations
- 6,809
- Mean correlation
- 0.32
- Most common range
- 0.7 to 0.8
- Positive pairs
- 72.5%
- Strong positive (≥0.7)
- 26.5%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 35 | 0.5% | |
| -0.8 to -0.7 | 34 | 0.5% | |
| -0.7 to -0.6 | 136 | 2.0% | |
| -0.6 to -0.5 | 135 | 2.0% | |
| -0.5 to -0.4 | 324 | 4.8% | |
| -0.4 to -0.3 | 323 | 4.7% | |
| -0.3 to -0.2 | 308 | 4.5% | |
| -0.2 to -0.1 | 307 | 4.5% | |
| -0.1 to 0.0 | 272 | 4.0% | |
| 0.0 to 0.1 | 271 | 4.0% | |
| 0.1 to 0.2 | 299 | 4.4% | |
| 0.2 to 0.3 | 299 | 4.4% | |
| 0.3 to 0.4 | 415 | 6.1% | |
| 0.4 to 0.5 | 415 | 6.1% | |
| 0.5 to 0.6 | 717 | 10.5% | |
| 0.6 to 0.7 | 716 | 10.5% | |
| 0.7 to 0.8 | 827 | 12.1% | |
| 0.8 to 0.9 | 827 | 12.1% | |
| 0.9 to 1.0 | 149 | 2.2% |
Frequently asked questions
What is the average correlation of HPS?
John Hancock Preferred Income Fund III (HPS) has an average correlation of about 0.32 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is HPS positively correlated with other stocks?
Mostly yes — 72.5% of pairs are positive and 27.5% are negative. Strong positive correlations (≥0.7) make up 26.5%.
What is the most common correlation range for HPS?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 25.8% of all pairs.
Explore the full interactive correlation distribution for HPS.
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