BANX vs DHY: Correlation
ArrowMark Financial Corp. - Closed End Fund (BANX) and Credit Suisse High Yield Credit Fund (DHY) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANX and DHY?
Across a 3-year window, the weekly returns of BANX and DHY correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 70.2 %².
In BANX's tracked universe of 12 assets, DHY sits right near the top at #1. Correlation aside, the last 12 months split them widely, with BANX ahead by 22.5 points (+13.0% versus -9.5%).
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.
BANX vs DHY: side by side
| BANX (ArrowMark Financial Corp. - Closed End Fund) | DHY (Credit Suisse High Yield Credit Fund) | |
|---|---|---|
| 1-year return | +13.0% | -9.5% |
| 5-year return | +58.6% | +9.4% |
| Volatility (ann.) | 14.7% | 10.9% |
| Beta vs S&P 500 | 0.32 | 0.36 |
| Max drawdown (3Y) | -13.7% | -12.9% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.4 | 17.1 |
| Dividend yield | 8.75% | 10.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANX | DHY |
|---|---|---|
| 2022 | -15.3% | -21.5% |
| 2023 | +20.4% | +23.5% |
| 2024 | +27.7% | +18.5% |
| 2025 | +15.6% | +2.5% |
| 2026 | +0.9% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANX and DHY good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BANX and DHY?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.35 over the last year and 0.36 over 5 years.
Is DHY a good diversifier for BANX?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/banx-vs-dhy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/banx-vs-dhy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BANX correlations · DHY correlations
