BBN vs BHK: Correlation
How closely do BlackRock Taxable Municipal Bond Trust (BBN) and Blackrock Core Bond Trust (BHK) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and BHK?
Over the past 3 years, BBN and BHK moved with a correlation of 0.72, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.60 versus 0.72 over 3 years. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 108.6 %².
By 3-year correlation, BHK places #7 of the 18 assets tracked against BBN. Twelve-month performance is nearly a tie, at +4.4% for BBN and +4.2% for BHK.
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.
BBN vs BHK: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | BHK (Blackrock Core Bond Trust) | |
|---|---|---|
| 1-year return | +4.4% | +4.2% |
| 5-year return | -14.4% | -15.3% |
| Volatility (ann.) | 12.3% | 12.4% |
| Beta vs S&P 500 | 0.26 | 0.28 |
| Max drawdown (3Y) | -11.8% | -16.6% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | 12.9 |
| Dividend yield | 0.00% | 9.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | BHK |
|---|---|---|
| 2022 | -31.0% | -32.6% |
| 2023 | +3.6% | +14.3% |
| 2024 | +6.0% | +3.9% |
| 2025 | +8.6% | +0.3% |
| 2026 | +2.3% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and BHK good diversifiers for each other?
To a limited degree. At 0.72 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 BBN and BHK?
As of 2026-08-27, the correlation of weekly returns between BBN and BHK is 0.72 over 3 years, 0.60 over 1 year and 0.66 over 5 years.
Is BHK a good diversifier for BBN?
To a limited degree. At 0.72 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 0.72 mean?
On the −1 to +1 scale, 0.72 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/bbn-vs-bhk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbn-vs-bhk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBN correlations · BHK correlations
