CIK vs HYG: Correlation
Measured on weekly returns over the past three years, Credit Suisse Asset Management Income Fund, Inc. (CIK) and iShares iBoxx High Yield Corporate Bond ETF (HYG) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIK and HYG?
Across a 3-year window, the weekly returns of CIK and HYG correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 36.2 %².
Few assets follow CIK as closely as HYG, which ranks #3 of 11 tracked partners. On 12-month performance HYG holds a 13.9-point edge, -9.3% against +4.6%. Note the risk asymmetry: CIK runs 2.4 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.
CIK vs HYG: side by side
| CIK (Credit Suisse Asset Management Income Fund, Inc.) | HYG (iShares iBoxx High Yield Corporate Bond ETF) | |
|---|---|---|
| 1-year return | -9.3% | +4.6% |
| 5-year return | +11.7% | +19.9% |
| Volatility (ann.) | 11.5% | 4.7% |
| Beta vs S&P 500 | 0.50 | 0.22 |
| Max drawdown (3Y) | -15.4% | -4.6% |
| Market cap | – | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 11.11% | 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 | CIK | HYG |
|---|---|---|
| 2022 | -19.0% | -11.0% |
| 2023 | +37.1% | +11.5% |
| 2024 | +1.2% | +8.0% |
| 2025 | +7.8% | +8.6% |
| 2026 | -8.1% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIK and HYG good diversifiers for each other?
To a limited degree. At 0.67 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 CIK and HYG?
As of 2026-08-27, the correlation of weekly returns between CIK and HYG is 0.67 over 3 years, 0.66 over 1 year and 0.58 over 5 years.
Is HYG a good diversifier for CIK?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cik-vs-hyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cik-vs-hyg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIK correlations · HYG correlations
