HYG vs ROL: Correlation
iShares iBoxx High Yield Corporate Bond ETF (HYG) and Rollins, Inc. (ROL) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYG and ROL?
On 3 years of weekly data the HYG/ROL correlation comes out at 0.39, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.39). The 5-year figure is 0.39, and annualized covariance runs at 42.2 %².
By 3-year correlation, ROL places #34 of the 46 assets tracked against HYG. The last year tells two different stories: HYG led by 40.3 percentage points, +4.6% for HYG against -35.7% for ROL. Across three years, the rolling one-year figure varied moderately, from 0.13 to 0.54. Note the risk asymmetry: ROL runs 4.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HYG vs ROL: side by side
| HYG (iShares iBoxx High Yield Corporate Bond ETF) | ROL (Rollins, Inc.) | |
|---|---|---|
| 1-year return | +4.6% | -35.7% |
| 5-year return | +19.9% | -1.8% |
| Volatility (ann.) | 4.7% | 23.2% |
| Beta vs S&P 500 | 0.22 | 0.51 |
| Max drawdown (3Y) | -4.6% | -44.6% |
| Market cap | – | $17.3B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 5.94% | 1.94% |
| Expense ratio | 0.49% | – |
| Assets under management | $17.1B | – |
| Sector / category | ETF · Bonds | Industrials |
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 | HYG | ROL |
|---|---|---|
| 2022 | -11.0% | +8.1% |
| 2023 | +11.5% | +21.2% |
| 2024 | +8.0% | +7.6% |
| 2025 | +8.6% | +31.1% |
| 2026 | +2.5% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYG and ROL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HYG and ROL?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.24 over the last year and 0.39 over 5 years.
Is ROL a good diversifier for HYG?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/hyg-vs-rol.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyg-vs-rol/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYG correlations · ROL correlations
