BHK vs WIA: Correlation
Blackrock Core Bond Trust (BHK) and Western Asset Inflation-Linked Income Fund (WIA) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHK and WIA?
On 3 years of weekly data the BHK/WIA correlation comes out at 0.66, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 59.5 %².
Within BHK's tracked universe of 17 assets, WIA comes in at #9 by 3-year correlation. Their 12-month results are close: +4.2% for BHK against +2.1% for WIA. One caveat on sizing: BHK is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WIA: side by side
| BHK (Blackrock Core Bond Trust) | WIA (Western Asset Inflation-Linked Income Fund) | |
|---|---|---|
| 1-year return | +4.2% | +2.1% |
| 5-year return | -15.3% | -3.9% |
| Volatility (ann.) | 12.4% | 7.2% |
| Beta vs S&P 500 | 0.28 | 0.20 |
| Max drawdown (3Y) | -16.6% | -6.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | 12.9 | 14.0 |
| Dividend yield | 9.85% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHK | WIA |
|---|---|---|
| 2022 | -32.6% | -25.8% |
| 2023 | +14.3% | +5.0% |
| 2024 | +3.9% | +6.1% |
| 2025 | +0.3% | +11.4% |
| 2026 | +1.6% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHK and WIA good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHK and WIA?
The BHK/WIA correlation stands at 0.66 on a 3-year window (1 year: 0.66, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is WIA a good diversifier for BHK?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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.
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Related comparisons
Hubs: BHK correlations · WIA correlations
