HYT vs RNW: Correlation
Measured on weekly returns over the past three years, Blackrock Corporate High Yield Fund, Inc. (HYT) and ReNew Energy Global plc - Class A Shares (RNW) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and RNW?
On 3 years of weekly data the HYT/RNW correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.36 over 3. The 5-year figure is 0.34, and annualized covariance runs at 149.1 %².
Among the 17 assets we track against HYT, RNW sits near the bottom by co-movement, at rank #13. The trailing year gives HYT the advantage: -1.6% versus -11.5%, a 9.9-point spread. One caveat on sizing: RNW is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RNW: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | RNW (ReNew Energy Global plc - Class A Shares) | |
|---|---|---|
| 1-year return | -1.6% | -11.5% |
| 5-year return | +7.9% | -26.6% |
| Volatility (ann.) | 11.6% | 35.5% |
| Beta vs S&P 500 | 0.52 | 0.53 |
| Max drawdown (3Y) | -14.0% | -45.1% |
| Market cap | $1.4B | $2.5B |
| P/E (trailing) | 9.1 | 22.0 |
| Dividend yield | 11.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYT | RNW |
|---|---|---|
| 2022 | -22.6% | -29.3% |
| 2023 | +19.9% | +39.3% |
| 2024 | +14.4% | -10.8% |
| 2025 | +0.0% | -17.3% |
| 2026 | +0.1% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and RNW good diversifiers for each other?
Reasonably. At 0.36, HYT and RNW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HYT and RNW?
As of 2026-08-27, the correlation of weekly returns between HYT and RNW is 0.36 over 3 years, 0.44 over 1 year and 0.34 over 5 years.
Is RNW a good diversifier for HYT?
Reasonably. At 0.36, HYT and RNW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/hyt-vs-rnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyt-vs-rnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYT correlations · RNW correlations
