BAFN vs PGP: Correlation
How closely do BayFirst Financial Corp. (BAFN) and Pimco Global StocksPlus & Income Fund (PGP) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAFN and PGP?
Over the past 3 years, BAFN and PGP moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 319.1 %².
Few assets follow BAFN as closely as PGP, which ranks #2 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months PGP outperformed by 41.6 percentage points (-28.1% for BAFN against +13.5% for PGP). Risk is not evenly split, since BAFN carries 2.9 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.
BAFN vs PGP: side by side
| BAFN (BayFirst Financial Corp.) | PGP (Pimco Global StocksPlus & Income Fund) | |
|---|---|---|
| 1-year return | -28.1% | +13.5% |
| 5-year return | -70.9% | +30.7% |
| Volatility (ann.) | 47.9% | 16.8% |
| Beta vs S&P 500 | 0.67 | 0.58 |
| Max drawdown (3Y) | -76.5% | -16.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 4.2 |
| Dividend yield | 0.00% | 9.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAFN | PGP |
|---|---|---|
| 2022 | -25.3% | -29.2% |
| 2023 | -20.2% | +21.3% |
| 2024 | +4.6% | +15.5% |
| 2025 | -40.4% | +29.9% |
| 2026 | -14.2% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAFN and PGP good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BAFN and PGP?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.28 over the last year and 0.28 over 5 years.
Is PGP a good diversifier for BAFN?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/bafn-vs-pgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bafn-vs-pgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAFN correlations · PGP correlations
