AMUB vs PDX: Correlation
How closely do ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and PIMCO Dynamic Income Strategy Fund (PDX) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and PDX?
Across a 3-year window, the weekly returns of AMUB and PDX correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.71, with an annualized covariance of 229.7 %².
Within AMUB's tracked universe of 20 assets, PDX comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMUB ahead by 20.0 points (+30.9% versus +10.9%). Note the risk asymmetry: PDX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMUB vs PDX: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | PDX (PIMCO Dynamic Income Strategy Fund) | |
|---|---|---|
| 1-year return | +30.9% | +10.9% |
| 5-year return | +191.0% | +203.4% |
| Volatility (ann.) | 16.5% | 26.1% |
| Beta vs S&P 500 | 0.31 | 0.40 |
| Max drawdown (3Y) | -17.0% | -37.2% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | PDX |
|---|---|---|
| 2022 | +29.9% | +23.0% |
| 2023 | +25.4% | +44.5% |
| 2024 | +23.0% | +37.0% |
| 2025 | +8.7% | -10.6% |
| 2026 | +29.6% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and PDX good diversifiers for each other?
To a limited degree. At 0.53 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 AMUB and PDX?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.50 over the last year and 0.71 over 5 years.
Is PDX a good diversifier for AMUB?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 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/amub-vs-pdx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amub-vs-pdx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMUB correlations · PDX correlations
