BGH vs ISD: Correlation
How closely do Barings Global Short Duration High Yield Fund (BGH) and PGIM High Yield Bond Fund, Inc. (ISD) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGH and ISD?
On 3 years of weekly data the BGH/ISD correlation comes out at 0.78, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 131.1 %².
Few assets follow BGH as closely as ISD, which ranks #1 of 13 tracked partners. Neither side won the trailing year by much: -2.8% 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.
BGH vs ISD: side by side
| BGH (Barings Global Short Duration High Yield Fund) | ISD (PGIM High Yield Bond Fund, Inc.) | |
|---|---|---|
| 1-year return | -2.8% | -7.0% |
| 5-year return | +37.9% | +21.1% |
| Volatility (ann.) | 13.2% | 12.7% |
| Beta vs S&P 500 | 0.54 | 0.50 |
| Max drawdown (3Y) | -16.9% | -13.9% |
| Market cap | – | $0.4B |
| P/E (trailing) | 14.2 | 10.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGH | ISD |
|---|---|---|
| 2022 | -19.9% | -18.4% |
| 2023 | +18.2% | +15.1% |
| 2024 | +27.3% | +22.1% |
| 2025 | +8.5% | +15.6% |
| 2026 | +1.0% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGH and ISD good diversifiers for each other?
Only partially. A correlation of 0.78 means BGH and ISD 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 BGH and ISD?
As of 2026-08-27, the correlation of weekly returns between BGH and ISD is 0.78 over 3 years, 0.68 over 1 year and 0.83 over 5 years.
Is ISD a good diversifier for BGH?
Only partially. A correlation of 0.78 means BGH and ISD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
A reading of 0.78 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/bgh-vs-isd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgh-vs-isd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGH correlations · ISD correlations
