BLW vs HIX: Correlation
Blackrock Limited Duration Income Trust (BLW) and Western Asset High Income Fund II Inc. (HIX) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLW and HIX?
On 3 years of weekly data the BLW/HIX correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.67 over 3. The 5-year figure is 0.67, and annualized covariance runs at 88.4 %².
Among the 17 assets we track against BLW, HIX ranks #8 by 3-year correlation. The trailing year gives HIX the advantage: -0.2% versus +5.0%, a 5.2-point spread.
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.
BLW vs HIX: side by side
| BLW (Blackrock Limited Duration Income Trust) | HIX (Western Asset High Income Fund II Inc.) | |
|---|---|---|
| 1-year return | -0.2% | +5.0% |
| 5-year return | +16.7% | -2.9% |
| Volatility (ann.) | 9.8% | 13.4% |
| Beta vs S&P 500 | 0.38 | 0.55 |
| Max drawdown (3Y) | -11.2% | -13.8% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 10.4 | 7.6 |
| Dividend yield | 10.69% | 15.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLW | HIX |
|---|---|---|
| 2022 | -15.9% | -24.6% |
| 2023 | +17.3% | +15.7% |
| 2024 | +11.1% | -3.1% |
| 2025 | +7.1% | +13.6% |
| 2026 | -0.8% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLW and HIX good diversifiers for each other?
Only partially. A correlation of 0.67 means BLW and HIX 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 BLW and HIX?
The BLW/HIX correlation stands at 0.67 on a 3-year window (1 year: 0.60, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is HIX a good diversifier for BLW?
Only partially. A correlation of 0.67 means BLW and HIX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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/blw-vs-hix.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blw-vs-hix/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLW correlations · HIX correlations
