FLC vs PHK: Correlation
Flaherty & Crumrine Total Return Fund Inc (FLC) and Pimco High Income Fund (PHK) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and PHK?
Over the past 3 years, FLC and PHK moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.59) than the 3-year average (0.70). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 93.8 %².
Among the 22 assets we track against FLC, PHK ranks #9 by 3-year correlation. Neither side won the trailing year by much: +3.8% against +4.6%.
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 PHK: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | PHK (Pimco High Income Fund) | |
|---|---|---|
| 1-year return | +3.8% | +4.6% |
| 5-year return | -0.2% | +18.6% |
| Volatility (ann.) | 11.3% | 11.8% |
| Beta vs S&P 500 | 0.48 | 0.36 |
| Max drawdown (3Y) | -10.5% | -14.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.3 | 9.0 |
| Dividend yield | 7.25% | 12.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | PHK |
|---|---|---|
| 2022 | -25.1% | -14.4% |
| 2023 | -0.8% | +18.8% |
| 2024 | +23.1% | +9.5% |
| 2025 | +12.4% | +12.6% |
| 2026 | -0.4% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and PHK 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 PHK?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.59 over the last year and 0.63 over 5 years.
Is PHK 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?
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.
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Related comparisons
Hubs: FLC correlations · PHK correlations
