DHY vs VLT: Correlation
How closely do Credit Suisse High Yield Credit Fund (DHY) and Invesco High Income Trust II (VLT) 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 VLT?
Across a 3-year window, the weekly returns of DHY and VLT correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.74, with an annualized covariance of 67.3 %².
Few assets follow DHY as closely as VLT, which ranks #2 of 13 tracked partners. On 12-month performance VLT holds a 8.2-point edge, -9.5% against -1.3%.
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 VLT: side by side
| DHY (Credit Suisse High Yield Credit Fund) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | -9.5% | -1.3% |
| 5-year return | +9.4% | +12.4% |
| Volatility (ann.) | 10.9% | 10.0% |
| Beta vs S&P 500 | 0.36 | 0.47 |
| Max drawdown (3Y) | -12.9% | -13.4% |
| Market cap | – | – |
| P/E (trailing) | 17.1 | 13.9 |
| Dividend yield | 10.81% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHY | VLT |
|---|---|---|
| 2022 | -21.5% | -20.9% |
| 2023 | +23.5% | +13.1% |
| 2024 | +18.5% | +17.3% |
| 2025 | +2.5% | +13.2% |
| 2026 | -8.3% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHY and VLT 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 VLT?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.50 over the last year and 0.74 over 5 years.
Is VLT 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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dhy-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dhy-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHY correlations · VLT correlations
