ERC vs PPT: Correlation
How closely do Allspring Multi-Sector Income Fund (ERC) and Franklin Premier Income Trust Shares of Beneficial Interest (PPT) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and PPT?
Over the past 3 years, ERC and PPT moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.54 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 55.7 %².
By 3-year correlation, PPT places #16 of the 22 assets tracked against ERC. Their 12-month results are close: +6.7% for ERC against +2.4% for PPT.
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 PPT: side by side
| ERC (Allspring Multi-Sector Income Fund) | PPT (Franklin Premier Income Trust Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +6.7% | +2.4% |
| 5-year return | +11.4% | +15.6% |
| Volatility (ann.) | 10.1% | 8.6% |
| Beta vs S&P 500 | 0.41 | 0.24 |
| Max drawdown (3Y) | -9.8% | -5.9% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | 11.1 |
| Dividend yield | 9.33% | 9.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | PPT |
|---|---|---|
| 2022 | -17.8% | -7.7% |
| 2023 | +4.9% | +7.4% |
| 2024 | +6.1% | +8.8% |
| 2025 | +11.1% | +8.4% |
| 2026 | +5.8% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and PPT good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ERC and PPT?
As of 2026-08-27, the correlation of weekly returns between ERC and PPT is 0.64 over 3 years, 0.54 over 1 year and 0.54 over 5 years.
Is PPT a good diversifier for ERC?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
A reading of 0.64 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-ppt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erc-vs-ppt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERC correlations · PPT correlations
