HYT vs VLT: Correlation
How closely do Blackrock Corporate High Yield Fund, Inc. (HYT) and Invesco High Income Trust II (VLT) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and VLT?
On 3 years of weekly data the HYT/VLT correlation comes out at 0.78, strong. The link has loosened recently: the 1-year correlation (0.63) runs below the 3-year figure (0.78). The 5-year figure is 0.78, and annualized covariance runs at 90.0 %².
VLT is one of the assets that tracks HYT most closely: it ranks #2 out of the 17 assets we track against HYT. Their 12-month results are close: -1.6% for HYT against -1.3% for VLT.
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 VLT: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | -1.6% | -1.3% |
| 5-year return | +7.9% | +12.4% |
| Volatility (ann.) | 11.6% | 10.0% |
| Beta vs S&P 500 | 0.52 | 0.47 |
| Max drawdown (3Y) | -14.0% | -13.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.1 | 13.9 |
| Dividend yield | 11.29% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYT | VLT |
|---|---|---|
| 2022 | -22.6% | -20.9% |
| 2023 | +19.9% | +13.1% |
| 2024 | +14.4% | +17.3% |
| 2025 | +0.0% | +13.2% |
| 2026 | +0.1% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and VLT good diversifiers for each other?
To a limited degree. At 0.78 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 VLT?
As of 2026-08-27, the correlation of weekly returns between HYT and VLT is 0.78 over 3 years, 0.63 over 1 year and 0.78 over 5 years.
Is VLT a good diversifier for HYT?
To a limited degree. At 0.78 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 0.78 mean?
A reading of 0.78 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/hyt-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hyt-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HYT correlations · VLT correlations
