AWF vs JGH: Correlation
Alliancebernstein Global High Income Fund (AWF) and Nuveen Global High Income Fund (JGH) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and JGH?
On 3 years of weekly data the AWF/JGH correlation comes out at 0.73, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 89.7 %².
By 3-year correlation, JGH places #7 of the 18 assets tracked against AWF. Neither side won the trailing year by much: -2.6% against +1.3%.
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 JGH: side by side
| AWF (Alliancebernstein Global High Income Fund) | JGH (Nuveen Global High Income Fund) | |
|---|---|---|
| 1-year return | -2.6% | +1.3% |
| 5-year return | +21.4% | +26.7% |
| Volatility (ann.) | 9.7% | 12.7% |
| Beta vs S&P 500 | 0.42 | 0.51 |
| Max drawdown (3Y) | -11.1% | -13.7% |
| Market cap | $0.9B | $0.3B |
| 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 | JGH |
|---|---|---|
| 2022 | -16.6% | -21.0% |
| 2023 | +18.4% | +20.9% |
| 2024 | +14.4% | +16.0% |
| 2025 | +7.6% | +8.2% |
| 2026 | -0.0% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and JGH good diversifiers for each other?
Only partially. A correlation of 0.73 means AWF and JGH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AWF and JGH?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.69 over the last year and 0.75 over 5 years.
Is JGH a good diversifier for AWF?
Only partially. A correlation of 0.73 means AWF and JGH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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
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Related comparisons
Hubs: AWF correlations · JGH correlations
