BTZ vs PGP: Correlation
BlackRock Credit Allocation Income Trust (BTZ) and Pimco Global StocksPlus & Income Fund (PGP) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTZ and PGP?
Across a 3-year window, the weekly returns of BTZ and PGP correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 132.5 %².
Within BTZ's tracked universe of 25 assets, PGP comes in at #10 by 3-year correlation. On 12-month performance PGP holds a 11.9-point edge, +1.6% against +13.5%.
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.
BTZ vs PGP: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | PGP (Pimco Global StocksPlus & Income Fund) | |
|---|---|---|
| 1-year return | +1.6% | +13.5% |
| 5-year return | +5.4% | +30.7% |
| Volatility (ann.) | 11.5% | 16.8% |
| Beta vs S&P 500 | 0.44 | 0.58 |
| Max drawdown (3Y) | -9.3% | -16.1% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | 4.2 |
| Dividend yield | 0.00% | 9.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTZ | PGP |
|---|---|---|
| 2022 | -27.1% | -29.2% |
| 2023 | +12.8% | +21.3% |
| 2024 | +11.3% | +15.5% |
| 2025 | +13.7% | +29.9% |
| 2026 | +0.1% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and PGP good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTZ and PGP?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.68 over the last year and 0.69 over 5 years.
Is PGP a good diversifier for BTZ?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 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/btz-vs-pgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btz-vs-pgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTZ correlations · PGP correlations
