DDT vs HYG: Correlation
Measured on weekly returns over the past three years, Dillard's Capital Trust I (DDT) and iShares iBoxx High Yield Corporate Bond ETF (HYG) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDT and HYG?
On 3 years of weekly data the DDT/HYG correlation comes out at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.38 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 11.0 %².
In DDT's tracked universe of 12 assets, HYG sits right near the top at #2. Neither side won the trailing year by much: +8.3% against +4.6%.
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.
DDT vs HYG: side by side
| DDT (Dillard's Capital Trust I) | HYG (iShares iBoxx High Yield Corporate Bond ETF) | |
|---|---|---|
| 1-year return | +8.3% | +4.6% |
| 5-year return | +43.4% | +19.9% |
| Volatility (ann.) | 6.1% | 4.7% |
| Beta vs S&P 500 | 0.11 | 0.22 |
| Max drawdown (3Y) | -4.6% | -4.6% |
| Dividend yield | – | 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 | DDT | HYG |
|---|---|---|
| 2022 | -3.3% | -11.0% |
| 2023 | +9.8% | +11.5% |
| 2024 | +7.4% | +8.0% |
| 2025 | +9.5% | +8.6% |
| 2026 | +6.0% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDT and HYG good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DDT and HYG?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.15 over the last year and 0.39 over 5 years.
Is HYG a good diversifier for DDT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/ddt-vs-hyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ddt-vs-hyg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DDT correlations · HYG correlations
