BLW vs PGP: Correlation
How closely do Blackrock Limited Duration Income Trust (BLW) and Pimco Global StocksPlus & Income Fund (PGP) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLW and PGP?
Across a 3-year window, the weekly returns of BLW and PGP correlate at 0.70, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 116.2 %².
By 3-year correlation, PGP places #7 of the 17 assets tracked against BLW. Over the last 12 months PGP came out ahead by 13.7 percentage points (-0.2% against +13.5%). Risk is not evenly split, since PGP carries 1.7 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.
BLW vs PGP: side by side
| BLW (Blackrock Limited Duration Income Trust) | PGP (Pimco Global StocksPlus & Income Fund) | |
|---|---|---|
| 1-year return | -0.2% | +13.5% |
| 5-year return | +16.7% | +30.7% |
| Volatility (ann.) | 9.8% | 16.8% |
| Beta vs S&P 500 | 0.38 | 0.58 |
| Max drawdown (3Y) | -11.2% | -16.1% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.4 | 4.2 |
| Dividend yield | 10.69% | 9.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLW | PGP |
|---|---|---|
| 2022 | -15.9% | -29.2% |
| 2023 | +17.3% | +21.3% |
| 2024 | +11.1% | +15.5% |
| 2025 | +7.1% | +29.9% |
| 2026 | -0.8% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLW and PGP good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BLW and PGP?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.69 over the last year and 0.68 over 5 years.
Is PGP a good diversifier for BLW?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/blw-vs-pgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/blw-vs-pgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLW correlations · PGP correlations
