PAXS vs PFL: Correlation
How closely do PIMCO Access Income Fund (PAXS) and PIMCO Income Strategy Fund Shares of Beneficial Interest (PFL) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAXS and PFL?
Across a 3-year window, the weekly returns of PAXS and PFL correlate at 0.74, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 129.2 %².
In PAXS's tracked universe of 10 assets, PFL sits right near the top at #1. Neither side won the trailing year by much: -0.3% against +1.1%.
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.
PAXS vs PFL: side by side
| PAXS (PIMCO Access Income Fund) | PFL (PIMCO Income Strategy Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -0.3% | +1.1% |
| 5-year return | +20.5% | +1.9% |
| Volatility (ann.) | 14.6% | 12.0% |
| Beta vs S&P 500 | 0.48 | 0.39 |
| Max drawdown (3Y) | -13.4% | -11.1% |
| Market cap | $0.7B | – |
| P/E (trailing) | 7.7 | 9.6 |
| Dividend yield | 0.00% | 12.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAXS | PFL |
|---|---|---|
| 2022 | – | -18.0% |
| 2023 | +9.3% | +17.2% |
| 2024 | +19.5% | +11.4% |
| 2025 | +12.5% | +13.0% |
| 2026 | +0.2% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAXS and PFL good diversifiers for each other?
Only partially. A correlation of 0.74 means PAXS and PFL 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 PAXS and PFL?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.75 over the last year and 0.64 over 5 years.
Is PFL a good diversifier for PAXS?
Only partially. A correlation of 0.74 means PAXS and PFL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/paxs-vs-pfl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/paxs-vs-pfl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAXS correlations · PFL correlations
