BGH vs KALA: Correlation
Barings Global Short Duration High Yield Fund (BGH) and KALA BIO, Inc. (KALA) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGH and KALA?
On 3 years of weekly data the BGH/KALA correlation comes out at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. The 5-year figure is -0.04, and annualized covariance runs at 517.2 %².
Out of 13 assets tracked against BGH, KALA lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months BGH outperformed by 97.0 percentage points (-2.8% for BGH against -99.8% for KALA). Note the risk asymmetry: KALA runs 9.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 KALA: side by side
| BGH (Barings Global Short Duration High Yield Fund) | KALA (KALA BIO, Inc.) | |
|---|---|---|
| 1-year return | -2.8% | -99.8% |
| 5-year return | +37.9% | -100.0% |
| Volatility (ann.) | 13.2% | 119.6% |
| Beta vs S&P 500 | 0.54 | 1.73 |
| Max drawdown (3Y) | -16.9% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGH | KALA |
|---|---|---|
| 2022 | -19.9% | -36.9% |
| 2023 | +18.2% | -81.7% |
| 2024 | +27.3% | -0.9% |
| 2025 | +8.5% | -92.0% |
| 2026 | +1.0% | -97.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGH and KALA good diversifiers for each other?
Reasonably. At 0.33, BGH and KALA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGH and KALA?
The BGH/KALA correlation stands at 0.33 on a 3-year window (1 year: 0.34, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is KALA a good diversifier for BGH?
Reasonably. At 0.33, BGH and KALA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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-kala.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgh-vs-kala/)
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Related comparisons
Hubs: BGH correlations · KALA correlations
