EVV vs PFN: Correlation
Eaton Vance Limited Duration Income Fund (EVV) and PIMCO Income Strategy Fund II (PFN) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and PFN?
Over the past 3 years, EVV and PFN moved with a correlation of 0.76, which is strong. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 94.6 %².
Among the 23 assets we track against EVV, PFN ranks #6 by 3-year correlation. The trailing year gives PFN the advantage: -3.5% versus +4.1%, a 7.6-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.
EVV vs PFN: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | PFN (PIMCO Income Strategy Fund II) | |
|---|---|---|
| 1-year return | -3.5% | +4.1% |
| 5-year return | +11.4% | +9.3% |
| Volatility (ann.) | 10.2% | 12.2% |
| Beta vs S&P 500 | 0.41 | 0.40 |
| Max drawdown (3Y) | -9.5% | -11.1% |
| Market cap | – | $0.7B |
| P/E (trailing) | 14.7 | 13.4 |
| Dividend yield | 9.65% | 12.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVV | PFN |
|---|---|---|
| 2022 | -19.9% | -17.6% |
| 2023 | +13.3% | +15.5% |
| 2024 | +12.2% | +15.8% |
| 2025 | +10.7% | +13.1% |
| 2026 | -2.5% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and PFN good diversifiers for each other?
To a limited degree. At 0.76 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 EVV and PFN?
The EVV/PFN correlation stands at 0.76 on a 3-year window (1 year: 0.81, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is PFN a good diversifier for EVV?
To a limited degree. At 0.76 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 0.76 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/evv-vs-pfn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evv-vs-pfn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVV correlations · PFN correlations
