HYT vs JLS: Correlation
How closely do Blackrock Corporate High Yield Fund, Inc. (HYT) and Nuveen Mortgage and Income Fund (JLS) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and JLS?
Across a 3-year window, the weekly returns of HYT and JLS correlate at 0.58, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.58). Stretching to 5 years gives 0.55, with an annualized covariance of 67.1 %².
Within HYT's tracked universe of 17 assets, JLS comes in at #9 by 3-year correlation. Twelve-month performance is nearly a tie, at -1.6% for HYT and -0.4% for JLS.
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.
HYT vs JLS: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | JLS (Nuveen Mortgage and Income Fund) | |
|---|---|---|
| 1-year return | -1.6% | -0.4% |
| 5-year return | +7.9% | +25.5% |
| Volatility (ann.) | 11.6% | 10.1% |
| Beta vs S&P 500 | 0.52 | 0.31 |
| Max drawdown (3Y) | -14.0% | -9.3% |
| Market cap | $1.4B | $0.1B |
| P/E (trailing) | 9.1 | 9.7 |
| Dividend yield | 11.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYT | JLS |
|---|---|---|
| 2022 | -22.6% | -17.9% |
| 2023 | +19.9% | +14.9% |
| 2024 | +14.4% | +17.9% |
| 2025 | +0.0% | +11.6% |
| 2026 | +0.1% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and JLS good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HYT and JLS?
As of 2026-08-27, the correlation of weekly returns between HYT and JLS is 0.58 over 3 years, 0.31 over 1 year and 0.55 over 5 years.
Is JLS a good diversifier for HYT?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/hyt-vs-jls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyt-vs-jls/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYT correlations · JLS correlations
