BLX vs VYM: Correlation
Measured on weekly returns over the past three years, Bladex, Inc. (BLX) and Vanguard High Dividend Yield ETF (VYM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLX and VYM?
Over the past 3 years, BLX and VYM moved with a correlation of 0.49, which is moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.49). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 152.0 %².
By 3-year correlation, VYM places #5 of the 10 assets tracked against BLX. Their 12-month results are close: +24.5% for BLX against +21.1% for VYM. Note the risk asymmetry: BLX runs 2.1 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.
BLX vs VYM: side by side
| BLX (Bladex, Inc.) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +24.5% | +21.1% |
| 5-year return | +326.0% | +76.6% |
| Volatility (ann.) | 25.5% | 12.3% |
| Beta vs S&P 500 | 0.59 | 0.69 |
| Max drawdown (3Y) | -21.0% | -14.5% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 4.93% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | US Listed | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | BLX | VYM |
|---|---|---|
| 2022 | +4.3% | -0.4% |
| 2023 | +60.6% | +6.6% |
| 2024 | +53.7% | +17.6% |
| 2025 | +29.4% | +15.4% |
| 2026 | +27.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLX and VYM good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BLX and VYM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.32 over the last year and 0.51 over 5 years.
Is VYM a good diversifier for BLX?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BLX correlations · VYM correlations
