ERC vs PCN: Correlation
Allspring Multi-Sector Income Fund (ERC) and Pimco Corporate & Income Strategy Fund (PCN) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and PCN?
On 3 years of weekly data the ERC/PCN correlation comes out at 0.68, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.68 over 3. The 5-year figure is 0.62, and annualized covariance runs at 102.1 %².
Within ERC's tracked universe of 22 assets, PCN comes in at #12 by 3-year correlation. The trailing year gives ERC the advantage: +6.7% versus +1.1%, a 5.6-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.
ERC vs PCN: side by side
| ERC (Allspring Multi-Sector Income Fund) | PCN (Pimco Corporate & Income Strategy Fund) | |
|---|---|---|
| 1-year return | +6.7% | +1.1% |
| 5-year return | +11.4% | +8.7% |
| Volatility (ann.) | 10.1% | 14.8% |
| Beta vs S&P 500 | 0.41 | 0.48 |
| Max drawdown (3Y) | -9.8% | -22.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | 9.2 |
| Dividend yield | 9.33% | 11.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | PCN |
|---|---|---|
| 2022 | -17.8% | -22.9% |
| 2023 | +4.9% | +16.3% |
| 2024 | +6.1% | +19.6% |
| 2025 | +11.1% | +5.6% |
| 2026 | +5.8% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and PCN good diversifiers for each other?
Only partially. A correlation of 0.68 means ERC and PCN 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 ERC and PCN?
The ERC/PCN correlation stands at 0.68 on a 3-year window (1 year: 0.65, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is PCN a good diversifier for ERC?
Only partially. A correlation of 0.68 means ERC and PCN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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/erc-vs-pcn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erc-vs-pcn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERC correlations · PCN correlations
