HIX vs VLT: Correlation
Measured on weekly returns over the past three years, Western Asset High Income Fund II Inc. (HIX) and Invesco High Income Trust II (VLT) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIX and VLT?
Across a 3-year window, the weekly returns of HIX and VLT correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 93.7 %².
In HIX's tracked universe of 11 assets, VLT sits right near the top at #1. On 12-month performance HIX holds a 6.3-point edge, +5.0% 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.
HIX vs VLT: side by side
| HIX (Western Asset High Income Fund II Inc.) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | +5.0% | -1.3% |
| 5-year return | -2.9% | +12.4% |
| Volatility (ann.) | 13.4% | 10.0% |
| Beta vs S&P 500 | 0.55 | 0.47 |
| Max drawdown (3Y) | -13.8% | -13.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.6 | 13.9 |
| Dividend yield | 15.04% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIX | VLT |
|---|---|---|
| 2022 | -24.6% | -20.9% |
| 2023 | +15.7% | +13.1% |
| 2024 | -3.1% | +17.3% |
| 2025 | +13.6% | +13.2% |
| 2026 | +3.3% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIX and VLT good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HIX and VLT?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.62 over the last year and 0.74 over 5 years.
Is VLT a good diversifier for HIX?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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/hix-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hix-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIX correlations · VLT correlations
