AVK vs JHX: Correlation
How closely do Advent Convertible and Income Fund (AVK) and James Hardie Industries plc. (JHX) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and JHX?
On 3 years of weekly data the AVK/JHX correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 388.4 %².
JHX is close to the least connected end of AVK's tracked universe, ranking #9 of 12. Their recent paths diverged sharply: over the last 12 months JHX outperformed by 33.5 percentage points (+12.6% for AVK against +46.1% for JHX). Note the risk asymmetry: JHX runs 2.8 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.
AVK vs JHX: side by side
| AVK (Advent Convertible and Income Fund) | JHX (James Hardie Industries plc.) | |
|---|---|---|
| 1-year return | +12.6% | +46.1% |
| 5-year return | +28.2% | -21.2% |
| Volatility (ann.) | 16.6% | 46.3% |
| Beta vs S&P 500 | 0.83 | 1.43 |
| Max drawdown (3Y) | -17.7% | -60.3% |
| Market cap | – | $17.3B |
| P/E (trailing) | 3.8 | 135.3 |
| Dividend yield | 11.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | JHX |
|---|---|---|
| 2022 | -34.5% | -55.4% |
| 2023 | +18.1% | +115.6% |
| 2024 | +19.4% | -20.3% |
| 2025 | +19.6% | -32.7% |
| 2026 | +7.9% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and JHX good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVK and JHX?
As of 2026-08-27, the correlation of weekly returns between AVK and JHX is 0.50 over 3 years, 0.50 over 1 year and 0.50 over 5 years.
Is JHX a good diversifier for AVK?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avk-vs-jhx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avk-vs-jhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVK correlations · JHX correlations
