AWF vs VLT: Correlation
How closely do Alliancebernstein Global High Income Fund (AWF) and Invesco High Income Trust II (VLT) 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 VLT?
On 3 years of weekly data the AWF/VLT correlation comes out at 0.75, strong. The link has loosened recently: the 1-year correlation (0.59) runs below the 3-year figure (0.75). The 5-year figure is 0.78, and annualized covariance runs at 72.5 %².
In AWF's tracked universe of 18 assets, VLT sits right near the top at #2. Twelve-month performance is nearly a tie, at -2.6% for AWF and -1.3% for VLT.
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 VLT: side by side
| AWF (Alliancebernstein Global High Income Fund) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | -2.6% | -1.3% |
| 5-year return | +21.4% | +12.4% |
| Volatility (ann.) | 9.7% | 10.0% |
| Beta vs S&P 500 | 0.42 | 0.47 |
| Max drawdown (3Y) | -11.1% | -13.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.6 | 13.9 |
| Dividend yield | 7.26% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | VLT |
|---|---|---|
| 2022 | -16.6% | -20.9% |
| 2023 | +18.4% | +13.1% |
| 2024 | +14.4% | +17.3% |
| 2025 | +7.6% | +13.2% |
| 2026 | -0.0% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and VLT good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWF and VLT?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.59 over the last year and 0.78 over 5 years.
Is VLT a good diversifier for AWF?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
A reading of 0.75 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/awf-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awf-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AWF correlations · VLT correlations
