AWF vs PAXS: Correlation
Measured on weekly returns over the past three years, Alliancebernstein Global High Income Fund (AWF) and PIMCO Access Income Fund (PAXS) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and PAXS?
On 3 years of weekly data the AWF/PAXS correlation comes out at 0.67, strong. The past 12 months show a weaker link (0.52) than the 3-year average (0.67). The 5-year figure is 0.54, and annualized covariance runs at 94.9 %².
By 3-year correlation, PAXS places #9 of the 18 assets tracked against AWF. Twelve-month performance is nearly a tie, at -2.6% for AWF and -0.3% for PAXS. Risk is not evenly split, since PAXS carries 1.5 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.
AWF vs PAXS: side by side
| AWF (Alliancebernstein Global High Income Fund) | PAXS (PIMCO Access Income Fund) | |
|---|---|---|
| 1-year return | -2.6% | -0.3% |
| 5-year return | +21.4% | +20.5% |
| Volatility (ann.) | 9.7% | 14.6% |
| Beta vs S&P 500 | 0.42 | 0.48 |
| Max drawdown (3Y) | -11.1% | -13.4% |
| Market cap | $0.9B | $0.7B |
| P/E (trailing) | 13.6 | 7.7 |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | PAXS |
|---|---|---|
| 2022 | -16.6% | – |
| 2023 | +18.4% | +9.3% |
| 2024 | +14.4% | +19.5% |
| 2025 | +7.6% | +12.5% |
| 2026 | -0.0% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and PAXS good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWF and PAXS?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.52 over the last year and 0.54 over 5 years.
Is PAXS a good diversifier for AWF?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 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/awf-vs-paxs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/awf-vs-paxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWF correlations · PAXS correlations
