ISD vs VLT: Correlation
Measured on weekly returns over the past three years, PGIM High Yield Bond Fund, Inc. (ISD) and Invesco High Income Trust II (VLT) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISD and VLT?
Across a 3-year window, the weekly returns of ISD and VLT correlate at 0.78, strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 99.2 %².
In ISD's tracked universe of 19 assets, VLT sits right near the top at #3. The trailing year gives VLT the advantage: -7.0% versus -1.3%, a 5.7-point spread.
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 VLT: side by side
| ISD (PGIM High Yield Bond Fund, Inc.) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | -7.0% | -1.3% |
| 5-year return | +21.1% | +12.4% |
| Volatility (ann.) | 12.7% | 10.0% |
| Beta vs S&P 500 | 0.50 | 0.47 |
| Max drawdown (3Y) | -13.9% | -13.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.5 | 13.9 |
| Dividend yield | 0.00% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ISD | VLT |
|---|---|---|
| 2022 | -18.4% | -20.9% |
| 2023 | +15.1% | +13.1% |
| 2024 | +22.1% | +17.3% |
| 2025 | +15.6% | +13.2% |
| 2026 | -9.9% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISD and VLT good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ISD and VLT?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.75 over the last year and 0.83 over 5 years.
Is VLT a good diversifier for ISD?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/isd-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ISD correlations · VLT correlations
