BN vs HYG: Correlation
Measured on weekly returns over the past three years, Brookfield Corporation Class A Limited Voting Shares (BN) and iShares iBoxx High Yield Corporate Bond ETF (HYG) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BN and HYG?
On 3 years of weekly data the BN/HYG correlation comes out at 0.74, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.74 over 3. The 5-year figure is 0.66, and annualized covariance runs at 99.7 %².
Among the 32 assets we track against BN, HYG ranks #6 by 3-year correlation. Over the last 12 months HYG came out ahead by 9.1 percentage points (-4.5% against +4.6%). One caveat on sizing: BN is 6.1 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.
BN vs HYG: side by side
| BN (Brookfield Corporation Class A Limited Voting Shares) | HYG (iShares iBoxx High Yield Corporate Bond ETF) | |
|---|---|---|
| 1-year return | -4.5% | +4.6% |
| 5-year return | +42.1% | +19.9% |
| Volatility (ann.) | 28.8% | 4.7% |
| Beta vs S&P 500 | 1.47 | 0.22 |
| Max drawdown (3Y) | -27.8% | -4.6% |
| Market cap | $92.5B | – |
| P/E (trailing) | 76.7 | – |
| Dividend yield | 0.62% | 5.94% |
| Expense ratio | – | 0.49% |
| Assets under management | – | $17.1B |
| Sector / category | US Listed | ETF · Bonds |
HYG is a High Yield Bond fund from iShares: $17.1B under management, a 0.49% expense ratio, a 5.94% trailing dividend yield.
Year-by-year returns
| Year | BN | HYG |
|---|---|---|
| 2022 | -34.6% | -11.0% |
| 2023 | +28.6% | +11.5% |
| 2024 | +44.2% | +8.0% |
| 2025 | +20.5% | +8.6% |
| 2026 | -9.4% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BN and HYG good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BN and HYG?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.75 over the last year and 0.66 over 5 years.
Is HYG a good diversifier for BN?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
A reading of 0.74 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/bn-vs-hyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bn-vs-hyg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BN correlations · HYG correlations
