AWF vs ISD: Correlation
Measured on weekly returns over the past three years, Alliancebernstein Global High Income Fund (AWF) and PGIM High Yield Bond Fund, Inc. (ISD) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and ISD?
On 3 years of weekly data the AWF/ISD correlation comes out at 0.74, strong. The link has loosened recently: the 1-year correlation (0.63) runs below the 3-year figure (0.74). The 5-year figure is 0.77, and annualized covariance runs at 91.5 %².
Within AWF's tracked universe of 18 assets, ISD comes in at #5 by 3-year correlation. Neither side won the trailing year by much: -2.6% against -7.0%.
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 ISD: side by side
| AWF (Alliancebernstein Global High Income Fund) | ISD (PGIM High Yield Bond Fund, Inc.) | |
|---|---|---|
| 1-year return | -2.6% | -7.0% |
| 5-year return | +21.4% | +21.1% |
| Volatility (ann.) | 9.7% | 12.7% |
| Beta vs S&P 500 | 0.42 | 0.50 |
| Max drawdown (3Y) | -11.1% | -13.9% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 13.6 | 10.5 |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | ISD |
|---|---|---|
| 2022 | -16.6% | -18.4% |
| 2023 | +18.4% | +15.1% |
| 2024 | +14.4% | +22.1% |
| 2025 | +7.6% | +15.6% |
| 2026 | -0.0% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and ISD good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWF and ISD?
As of 2026-08-27, the correlation of weekly returns between AWF and ISD is 0.74 over 3 years, 0.63 over 1 year and 0.77 over 5 years.
Is ISD a good diversifier for AWF?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awf-vs-isd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awf-vs-isd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AWF correlations · ISD correlations
