ARDX vs PFN: Correlation
Measured on weekly returns over the past three years, Ardelyx, Inc. (ARDX) and PIMCO Income Strategy Fund II (PFN) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDX and PFN?
Over the past 3 years, ARDX and PFN moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.37). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 317.8 %².
Within ARDX's tracked universe of 11 assets, PFN comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PFN ahead by 42.4 points (-38.3% versus +4.1%). Risk is not evenly split, since ARDX carries 5.8 times the volatility of the other side.
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.
ARDX vs PFN: side by side
| ARDX (Ardelyx, Inc.) | PFN (PIMCO Income Strategy Fund II) | |
|---|---|---|
| 1-year return | -38.3% | +4.1% |
| 5-year return | +165.3% | +9.3% |
| Volatility (ann.) | 70.9% | 12.2% |
| Beta vs S&P 500 | 1.03 | 0.40 |
| Max drawdown (3Y) | -66.3% | -11.1% |
| Market cap | $1.0B | $0.7B |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 0.00% | 12.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDX | PFN |
|---|---|---|
| 2022 | +159.1% | -17.6% |
| 2023 | +117.5% | +15.5% |
| 2024 | -18.2% | +15.8% |
| 2025 | +15.0% | +13.1% |
| 2026 | -34.5% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDX and PFN good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARDX and PFN?
The ARDX/PFN correlation stands at 0.37 on a 3-year window (1 year: 0.23, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is PFN a good diversifier for ARDX?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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/ardx-vs-pfn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ardx-vs-pfn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDX correlations · PFN correlations
