BHK vs VBF: Correlation
How closely do Blackrock Core Bond Trust (BHK) and Invesco Bond Fund (VBF) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHK and VBF?
Over the past 3 years, BHK and VBF moved with a correlation of 0.63, which is strong. The past 12 months show a tighter link (0.78) than the 3-year average (0.63). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 71.8 %².
Within BHK's tracked universe of 17 assets, VBF comes in at #11 by 3-year correlation. Twelve-month performance is nearly a tie, at +4.2% for BHK and +0.7% for VBF.
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 VBF: side by side
| BHK (Blackrock Core Bond Trust) | VBF (Invesco Bond Fund) | |
|---|---|---|
| 1-year return | +4.2% | +0.7% |
| 5-year return | -15.3% | -4.4% |
| Volatility (ann.) | 12.4% | 9.2% |
| Beta vs S&P 500 | 0.28 | 0.19 |
| Max drawdown (3Y) | -16.6% | -11.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | 12.9 | 14.4 |
| Dividend yield | 9.85% | 5.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHK | VBF |
|---|---|---|
| 2022 | -32.6% | -17.8% |
| 2023 | +14.3% | +2.3% |
| 2024 | +3.9% | +7.0% |
| 2025 | +0.3% | +5.5% |
| 2026 | +1.6% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHK and VBF good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHK and VBF?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.78 over the last year and 0.66 over 5 years.
Is VBF a good diversifier for BHK?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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-vbf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bhk-vs-vbf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHK correlations · VBF correlations
