AWF vs BGH: Correlation
How closely do Alliancebernstein Global High Income Fund (AWF) and Barings Global Short Duration High Yield Fund (BGH) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and BGH?
Over the past 3 years, AWF and BGH moved with a correlation of 0.75, which is strong. The link has loosened recently: the 1-year correlation (0.64) runs below the 3-year figure (0.75). Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 95.2 %².
BGH is one of the assets that tracks AWF most closely: it ranks #1 out of the 18 assets we track against AWF. Their 12-month results are close: -2.6% for AWF against -2.8% for BGH.
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.
AWF vs BGH: side by side
| AWF (Alliancebernstein Global High Income Fund) | BGH (Barings Global Short Duration High Yield Fund) | |
|---|---|---|
| 1-year return | -2.6% | -2.8% |
| 5-year return | +21.4% | +37.9% |
| Volatility (ann.) | 9.7% | 13.2% |
| Beta vs S&P 500 | 0.42 | 0.54 |
| Max drawdown (3Y) | -11.1% | -16.9% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.6 | 14.2 |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | BGH |
|---|---|---|
| 2022 | -16.6% | -19.9% |
| 2023 | +18.4% | +18.2% |
| 2024 | +14.4% | +27.3% |
| 2025 | +7.6% | +8.5% |
| 2026 | -0.0% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and BGH good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AWF and BGH?
The AWF/BGH correlation stands at 0.75 on a 3-year window (1 year: 0.64, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is BGH a good diversifier for AWF?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awf-vs-bgh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/awf-vs-bgh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AWF correlations · BGH correlations
