FLC vs PCN: Correlation
How closely do Flaherty & Crumrine Total Return Fund Inc (FLC) and Pimco Corporate & Income Strategy Fund (PCN) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and PCN?
On 3 years of weekly data the FLC/PCN correlation comes out at 0.70, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 117.3 %².
Among the 22 assets we track against FLC, PCN ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +3.8% for FLC and +1.1% for PCN.
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.
FLC vs PCN: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | PCN (Pimco Corporate & Income Strategy Fund) | |
|---|---|---|
| 1-year return | +3.8% | +1.1% |
| 5-year return | -0.2% | +8.7% |
| Volatility (ann.) | 11.3% | 14.8% |
| Beta vs S&P 500 | 0.48 | 0.48 |
| Max drawdown (3Y) | -10.5% | -22.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.3 | 9.2 |
| Dividend yield | 7.25% | 11.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | PCN |
|---|---|---|
| 2022 | -25.1% | -22.9% |
| 2023 | -0.8% | +16.3% |
| 2024 | +23.1% | +19.6% |
| 2025 | +12.4% | +5.6% |
| 2026 | -0.4% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and PCN good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLC and PCN?
The FLC/PCN correlation stands at 0.70 on a 3-year window (1 year: 0.70, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is PCN a good diversifier for FLC?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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/flc-vs-pcn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flc-vs-pcn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLC correlations · PCN correlations
