BHK vs BND: Correlation
Measured on weekly returns over the past three years, Blackrock Core Bond Trust (BHK) and Vanguard Total Bond Market ETF (BND) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHK and BND?
Over the past 3 years, BHK and BND moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 47.4 %².
Few assets follow BHK as closely as BND, which ranks #2 of 17 tracked partners. Their 12-month results are close: +4.2% for BHK against +2.3% for BND. Note the risk asymmetry: BHK runs 2.4 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.
BHK vs BND: side by side
| BHK (Blackrock Core Bond Trust) | BND (Vanguard Total Bond Market ETF) | |
|---|---|---|
| 1-year return | +4.2% | +2.3% |
| 5-year return | -15.3% | -1.3% |
| Volatility (ann.) | 12.4% | 5.2% |
| Beta vs S&P 500 | 0.28 | 0.06 |
| Max drawdown (3Y) | -16.6% | -4.7% |
| Market cap | – | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 9.85% | – |
| Sector / category | US Listed | ETF · Bonds |
Year-by-year returns
| Year | BHK | BND |
|---|---|---|
| 2022 | -32.6% | -13.1% |
| 2023 | +14.3% | +5.7% |
| 2024 | +3.9% | +1.4% |
| 2025 | +0.3% | +7.1% |
| 2026 | +1.6% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHK and BND good diversifiers for each other?
Only partially. A correlation of 0.74 means BHK and BND 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 BHK and BND?
The BHK/BND correlation stands at 0.74 on a 3-year window (1 year: 0.80, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is BND a good diversifier for BHK?
Only partially. A correlation of 0.74 means BHK and BND share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 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/bhk-vs-bnd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhk-vs-bnd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHK correlations · BND correlations
