GCT vs PHK: Correlation
How closely do GigaCloud Technology Inc - Class A (GCT) and Pimco High Income Fund (PHK) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCT and PHK?
Over the past 3 years, GCT and PHK moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.44). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 443.5 %².
PHK is one of the assets that tracks GCT most closely: it ranks #1 out of the 10 assets we track against GCT. Correlation aside, the last 12 months split them widely, with GCT ahead by 90.6 points (+95.2% versus +4.6%). One caveat on sizing: GCT is 7.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GCT vs PHK: side by side
| GCT (GigaCloud Technology Inc - Class A) | PHK (Pimco High Income Fund) | |
|---|---|---|
| 1-year return | +95.2% | +4.6% |
| 5-year return | n/a | +18.6% |
| Volatility (ann.) | 85.6% | 11.8% |
| Beta vs S&P 500 | 1.87 | 0.36 |
| Max drawdown (3Y) | -73.2% | -14.5% |
| Market cap | $1.8B | – |
| P/E (trailing) | 12.4 | 9.0 |
| Dividend yield | 0.00% | 12.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCT | PHK |
|---|---|---|
| 2022 | – | -14.4% |
| 2023 | +221.5% | +18.8% |
| 2024 | +1.2% | +9.5% |
| 2025 | +112.1% | +12.6% |
| 2026 | +31.3% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCT and PHK good diversifiers for each other?
Reasonably. At 0.44, GCT and PHK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GCT and PHK?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.33 over the last year and 0.28 over 5 years.
Is PHK a good diversifier for GCT?
Reasonably. At 0.44, GCT and PHK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: GCT correlations · PHK correlations
