BND vs SU: Correlation
Vanguard Total Bond Market ETF (BND) and Suncor Energy Inc. (SU) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BND and SU?
On 3 years of weekly data the BND/SU correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.25 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -37.6 %².
By 3-year correlation, SU places #26 of the 33 assets tracked against BND. Correlation aside, the last 12 months split them widely, with SU ahead by 62.0 points (+2.3% versus +64.3%). Note the risk asymmetry: SU runs 5.6 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.
BND vs SU: side by side
| BND (Vanguard Total Bond Market ETF) | SU (Suncor Energy Inc.) | |
|---|---|---|
| 1-year return | +2.3% | +64.3% |
| 5-year return | -1.3% | +325.4% |
| Volatility (ann.) | 5.2% | 29.1% |
| Beta vs S&P 500 | 0.06 | 0.13 |
| Max drawdown (3Y) | -4.7% | -22.7% |
| Market cap | – | $78.4B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | – | 3.61% |
| Sector / category | ETF · Bonds | US Listed |
Year-by-year returns
| Year | BND | SU |
|---|---|---|
| 2022 | -13.1% | +32.3% |
| 2023 | +5.7% | +6.0% |
| 2024 | +1.4% | +16.2% |
| 2025 | +7.1% | +27.1% |
| 2026 | +0.2% | +51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BND and SU good diversifiers for each other?
Yes. With a correlation of -0.25, BND and SU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BND and SU?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.52 over the last year and -0.14 over 5 years.
Is SU a good diversifier for BND?
Yes. With a correlation of -0.25, BND and SU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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/bnd-vs-su.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bnd-vs-su/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BND correlations · SU correlations
