BOE vs HIX: Correlation
Blackrock Enhanced Global Dividend Trust (BOE) and Western Asset High Income Fund II Inc. (HIX) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and HIX?
Across a 3-year window, the weekly returns of BOE and HIX correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 125.7 %².
Among the 27 assets we track against BOE, HIX ranks #16 by 3-year correlation. Over the last 12 months BOE came out ahead by 12.7 percentage points (+17.7% against +5.0%).
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 HIX: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | HIX (Western Asset High Income Fund II Inc.) | |
|---|---|---|
| 1-year return | +17.7% | +5.0% |
| 5-year return | +46.4% | -2.9% |
| Volatility (ann.) | 13.8% | 13.4% |
| Beta vs S&P 500 | 0.79 | 0.55 |
| Max drawdown (3Y) | -14.5% | -13.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | 6.8 | 7.6 |
| Dividend yield | 7.95% | 15.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | HIX |
|---|---|---|
| 2022 | -15.5% | -24.6% |
| 2023 | +12.0% | +15.7% |
| 2024 | +16.8% | -3.1% |
| 2025 | +18.8% | +13.6% |
| 2026 | +12.2% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and HIX good diversifiers for each other?
To a limited degree. At 0.68 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 BOE and HIX?
As of 2026-08-27, the correlation of weekly returns between BOE and HIX is 0.68 over 3 years, 0.72 over 1 year and 0.64 over 5 years.
Is HIX a good diversifier for BOE?
To a limited degree. At 0.68 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 0.68 mean?
A reading of 0.68 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-hix.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-hix/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOE correlations · HIX correlations
