FLC vs PDI: Correlation
Flaherty & Crumrine Total Return Fund Inc (FLC) and PIMCO Dynamic Income Fund (PDI) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and PDI?
Over the past 3 years, FLC and PDI moved with a correlation of 0.71, which is strong. The link has loosened recently: the 1-year correlation (0.59) runs below the 3-year figure (0.71). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 115.2 %².
By 3-year correlation, PDI places #6 of the 22 assets tracked against FLC. Over the last 12 months FLC came out ahead by 11.4 percentage points (+3.8% against -7.6%).
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 PDI: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | PDI (PIMCO Dynamic Income Fund) | |
|---|---|---|
| 1-year return | +3.8% | -7.6% |
| 5-year return | -0.2% | +11.0% |
| Volatility (ann.) | 11.3% | 14.3% |
| Beta vs S&P 500 | 0.48 | 0.52 |
| Max drawdown (3Y) | -10.5% | -14.4% |
| Market cap | $0.2B | $7.1B |
| P/E (trailing) | 9.3 | 7.5 |
| Dividend yield | 7.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | PDI |
|---|---|---|
| 2022 | -25.1% | -17.0% |
| 2023 | -0.8% | +12.0% |
| 2024 | +23.1% | +17.2% |
| 2025 | +12.4% | +11.1% |
| 2026 | -0.4% | -3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and PDI good diversifiers for each other?
Only partially. A correlation of 0.71 means FLC and PDI 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 FLC and PDI?
The FLC/PDI correlation stands at 0.71 on a 3-year window (1 year: 0.59, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is PDI a good diversifier for FLC?
Only partially. A correlation of 0.71 means FLC and PDI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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
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Related comparisons
Hubs: FLC correlations · PDI correlations
