HIX vs PTCT: Correlation
Measured on weekly returns over the past three years, Western Asset High Income Fund II Inc. (HIX) and PTC Therapeutics, Inc. (PTCT) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIX and PTCT?
Across a 3-year window, the weekly returns of HIX and PTCT correlate at 0.44, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.44). Stretching to 5 years gives 0.30, with an annualized covariance of 306.5 %².
Out of 11 assets tracked against HIX, PTCT lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months PTCT outperformed by 39.3 percentage points (+5.0% for HIX against +44.3% for PTCT). Risk is not evenly split, since PTCT carries 3.9 times the volatility of the other side.
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.
HIX vs PTCT: side by side
| HIX (Western Asset High Income Fund II Inc.) | PTCT (PTC Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +5.0% | +44.3% |
| 5-year return | -2.9% | +70.4% |
| Volatility (ann.) | 13.4% | 52.5% |
| Beta vs S&P 500 | 0.55 | 1.25 |
| Max drawdown (3Y) | -13.8% | -56.8% |
| Market cap | $0.4B | $6.0B |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 15.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIX | PTCT |
|---|---|---|
| 2022 | -24.6% | -4.2% |
| 2023 | +15.7% | -27.8% |
| 2024 | -3.1% | +63.8% |
| 2025 | +13.6% | +68.3% |
| 2026 | +3.3% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIX and PTCT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HIX and PTCT?
The HIX/PTCT correlation stands at 0.44 on a 3-year window (1 year: 0.21, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is PTCT a good diversifier for HIX?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/hix-vs-ptct.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hix-vs-ptct/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIX correlations · PTCT correlations
