BKT vs FMY: Correlation
Measured on weekly returns over the past three years, BlackRock Income Trust Inc. (The) (BKT) and First Trust Mortgage Income Fund (FMY) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKT and FMY?
Across a 3-year window, the weekly returns of BKT and FMY correlate at 0.45, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.45 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 42.1 %².
By 3-year correlation, FMY places #11 of the 16 assets tracked against BKT. Over the last 12 months FMY came out ahead by 5.6 percentage points (-3.3% against +2.3%).
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.
BKT vs FMY: side by side
| BKT (BlackRock Income Trust Inc. (The)) | FMY (First Trust Mortgage Income Fund) | |
|---|---|---|
| 1-year return | -3.3% | +2.3% |
| 5-year return | -16.5% | +18.1% |
| Volatility (ann.) | 9.7% | 9.6% |
| Beta vs S&P 500 | 0.19 | 0.12 |
| Max drawdown (3Y) | -10.4% | -7.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.0 | 16.5 |
| Dividend yield | 10.17% | 6.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKT | FMY |
|---|---|---|
| 2022 | -21.6% | -13.0% |
| 2023 | +7.6% | +16.1% |
| 2024 | +3.2% | +7.1% |
| 2025 | +5.0% | +8.6% |
| 2026 | +0.0% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKT and FMY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BKT and FMY?
As of 2026-08-27, the correlation of weekly returns between BKT and FMY is 0.45 over 3 years, 0.55 over 1 year and 0.37 over 5 years.
Is FMY a good diversifier for BKT?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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/bkt-vs-fmy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bkt-vs-fmy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BKT correlations · FMY correlations
