FRA vs RCS: Correlation
Blackrock Floating Rate Income Strategies Fund Inc (FRA) and PIMCO Strategic Income Fund, Inc. (RCS) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRA and RCS?
Over the past 3 years, FRA and RCS moved with a correlation of 0.48, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.48 over 3 years. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 149.2 %².
By 3-year correlation, RCS places #8 of the 14 assets tracked against FRA. On 12-month performance FRA holds a 14.3-point edge, -6.5% against -20.8%. Note the risk asymmetry: RCS runs 2.3 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.
FRA vs RCS: side by side
| FRA (Blackrock Floating Rate Income Strategies Fund Inc) | RCS (PIMCO Strategic Income Fund, Inc.) | |
|---|---|---|
| 1-year return | -6.5% | -20.8% |
| 5-year return | +37.4% | +5.4% |
| Volatility (ann.) | 11.6% | 27.0% |
| Beta vs S&P 500 | 0.44 | 0.77 |
| Max drawdown (3Y) | -18.8% | -32.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | 15.6 | 6.9 |
| Dividend yield | 13.61% | 9.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRA | RCS |
|---|---|---|
| 2022 | -10.6% | -19.5% |
| 2023 | +25.5% | +37.6% |
| 2024 | +21.6% | +37.5% |
| 2025 | -3.7% | -21.5% |
| 2026 | +1.5% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRA and RCS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FRA and RCS?
As of 2026-08-27, the correlation of weekly returns between FRA and RCS is 0.48 over 3 years, 0.35 over 1 year and 0.45 over 5 years.
Is RCS a good diversifier for FRA?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fra-vs-rcs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fra-vs-rcs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRA correlations · RCS correlations
