DSL vs PFN: Correlation
How closely do DoubleLine Income Solutions Fund (DSL) and PIMCO Income Strategy Fund II (PFN) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSL and PFN?
Over the past 3 years, DSL and PFN moved with a correlation of 0.73, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 108.1 %².
Within DSL's tracked universe of 30 assets, PFN comes in at #12 by 3-year correlation. The trailing year gives PFN the advantage: -3.7% versus +4.1%, a 7.8-point spread.
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.
DSL vs PFN: side by side
| DSL (DoubleLine Income Solutions Fund) | PFN (PIMCO Income Strategy Fund II) | |
|---|---|---|
| 1-year return | -3.7% | +4.1% |
| 5-year return | +5.8% | +9.3% |
| Volatility (ann.) | 12.2% | 12.2% |
| Beta vs S&P 500 | 0.49 | 0.40 |
| Max drawdown (3Y) | -13.5% | -11.1% |
| Market cap | $1.2B | $0.7B |
| P/E (trailing) | 33.2 | 13.4 |
| Dividend yield | 0.00% | 12.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSL | PFN |
|---|---|---|
| 2022 | -22.6% | -17.6% |
| 2023 | +23.4% | +15.5% |
| 2024 | +14.0% | +15.8% |
| 2025 | -0.0% | +13.1% |
| 2026 | +2.1% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSL and PFN good diversifiers for each other?
Only partially. A correlation of 0.73 means DSL and PFN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DSL and PFN?
The DSL/PFN correlation stands at 0.73 on a 3-year window (1 year: 0.64, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is PFN a good diversifier for DSL?
Only partially. A correlation of 0.73 means DSL and PFN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/dsl-vs-pfn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dsl-vs-pfn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DSL correlations · PFN correlations
