ERC vs TLK: Correlation
Measured on weekly returns over the past three years, Allspring Multi-Sector Income Fund (ERC) and PT Telekomunikasi Indonesia, Tbk (TLK) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and TLK?
On 3 years of weekly data the ERC/TLK correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 132.5 %².
Among the 22 assets we track against ERC, TLK sits near the bottom by co-movement, at rank #19. Correlation aside, the last 12 months split them widely, with ERC ahead by 26.0 points (+6.7% versus -19.3%). Note the risk asymmetry: TLK runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TLK: side by side
| ERC (Allspring Multi-Sector Income Fund) | TLK (PT Telekomunikasi Indonesia, Tbk) | |
|---|---|---|
| 1-year return | +6.7% | -19.3% |
| 5-year return | +11.4% | -18.1% |
| Volatility (ann.) | 10.1% | 27.9% |
| Beta vs S&P 500 | 0.41 | 0.66 |
| Max drawdown (3Y) | -9.8% | -47.6% |
| Market cap | $0.3B | $14.3B |
| P/E (trailing) | 9.7 | 14.7 |
| Dividend yield | 9.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | TLK |
|---|---|---|
| 2022 | -17.8% | -14.6% |
| 2023 | +4.9% | +12.6% |
| 2024 | +6.1% | -32.3% |
| 2025 | +11.1% | +37.8% |
| 2026 | +5.8% | -25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and TLK good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ERC and TLK?
As of 2026-08-27, the correlation of weekly returns between ERC and TLK is 0.47 over 3 years, 0.46 over 1 year and 0.25 over 5 years.
Is TLK a good diversifier for ERC?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/erc-vs-tlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erc-vs-tlk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERC correlations · TLK correlations
