BOE vs DHF: Correlation
How closely do Blackrock Enhanced Global Dividend Trust (BOE) and BNY Mellon High Yield Strategies Fund (DHF) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and DHF?
Over the past 3 years, BOE and DHF moved with a correlation of 0.72, which is strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 113.8 %².
By 3-year correlation, DHF places #15 of the 27 assets tracked against BOE. Their recent paths diverged sharply: over the last 12 months BOE outperformed by 18.3 percentage points (+17.7% for BOE against -0.6% for DHF).
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.
BOE vs DHF: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | DHF (BNY Mellon High Yield Strategies Fund) | |
|---|---|---|
| 1-year return | +17.7% | -0.6% |
| 5-year return | +46.4% | +7.9% |
| Volatility (ann.) | 13.8% | 11.4% |
| Beta vs S&P 500 | 0.79 | 0.52 |
| Max drawdown (3Y) | -14.5% | -11.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | 6.8 | 13.8 |
| Dividend yield | 7.95% | 8.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | DHF |
|---|---|---|
| 2022 | -15.5% | -22.5% |
| 2023 | +12.0% | +15.0% |
| 2024 | +16.8% | +21.4% |
| 2025 | +18.8% | +5.9% |
| 2026 | +12.2% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and DHF good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BOE and DHF?
The BOE/DHF correlation stands at 0.72 on a 3-year window (1 year: 0.68, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is DHF a good diversifier for BOE?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
A reading of 0.72 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/boe-vs-dhf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boe-vs-dhf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BOE correlations · DHF correlations
