ISD vs NHS: Correlation
PGIM High Yield Bond Fund, Inc. (ISD) and Neuberger High Yield Strategies Fund Inc. (NHS) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISD and NHS?
On 3 years of weekly data the ISD/NHS correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. The 5-year figure is 0.68, and annualized covariance runs at 114.9 %².
Within ISD's tracked universe of 19 assets, NHS comes in at #7 by 3-year correlation. Neither side won the trailing year by much: -7.0% against -7.1%.
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.
ISD vs NHS: side by side
| ISD (PGIM High Yield Bond Fund, Inc.) | NHS (Neuberger High Yield Strategies Fund Inc.) | |
|---|---|---|
| 1-year return | -7.0% | -7.1% |
| 5-year return | +21.1% | -7.7% |
| Volatility (ann.) | 12.7% | 13.0% |
| Beta vs S&P 500 | 0.50 | 0.41 |
| Max drawdown (3Y) | -13.9% | -17.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.5 | 9.9 |
| Dividend yield | 0.00% | 18.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ISD | NHS |
|---|---|---|
| 2022 | -18.4% | -23.0% |
| 2023 | +15.1% | +3.7% |
| 2024 | +22.1% | +11.0% |
| 2025 | +15.6% | +14.8% |
| 2026 | -9.9% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISD and NHS good diversifiers for each other?
Only partially. A correlation of 0.70 means ISD and NHS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ISD and NHS?
As of 2026-08-27, the correlation of weekly returns between ISD and NHS is 0.70 over 3 years, 0.74 over 1 year and 0.68 over 5 years.
Is NHS a good diversifier for ISD?
Only partially. A correlation of 0.70 means ISD and NHS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/isd-vs-nhs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/isd-vs-nhs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ISD correlations · NHS correlations
