DHY vs ISD: Correlation
How closely do Credit Suisse High Yield Credit Fund (DHY) and PGIM High Yield Bond Fund, Inc. (ISD) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHY and ISD?
Across a 3-year window, the weekly returns of DHY and ISD correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 86.2 %².
ISD is one of the assets that tracks DHY most closely: it ranks #1 out of the 13 assets we track against DHY. Twelve-month performance is nearly a tie, at -9.5% for DHY and -7.0% for ISD.
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.
DHY vs ISD: side by side
| DHY (Credit Suisse High Yield Credit Fund) | ISD (PGIM High Yield Bond Fund, Inc.) | |
|---|---|---|
| 1-year return | -9.5% | -7.0% |
| 5-year return | +9.4% | +21.1% |
| Volatility (ann.) | 10.9% | 12.7% |
| Beta vs S&P 500 | 0.36 | 0.50 |
| Max drawdown (3Y) | -12.9% | -13.9% |
| Market cap | – | $0.4B |
| P/E (trailing) | 17.1 | 10.5 |
| Dividend yield | 10.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHY | ISD |
|---|---|---|
| 2022 | -21.5% | -18.4% |
| 2023 | +23.5% | +15.1% |
| 2024 | +18.5% | +22.1% |
| 2025 | +2.5% | +15.6% |
| 2026 | -8.3% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHY and ISD good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DHY and ISD?
As of 2026-08-27, the correlation of weekly returns between DHY and ISD is 0.62 over 3 years, 0.52 over 1 year and 0.74 over 5 years.
Is ISD a good diversifier for DHY?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/dhy-vs-isd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dhy-vs-isd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DHY correlations · ISD correlations
