PAXS vs PFN: Correlation
How closely do PIMCO Access Income Fund (PAXS) and PIMCO Income Strategy Fund II (PFN) 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 PFN?
Across a 3-year window, the weekly returns of PAXS and PFN correlate at 0.74, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.74 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 131.3 %².
In PAXS's tracked universe of 10 assets, PFN sits right near the top at #2. Neither side won the trailing year by much: -0.3% against +4.1%.
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 PFN: side by side
| PAXS (PIMCO Access Income Fund) | PFN (PIMCO Income Strategy Fund II) | |
|---|---|---|
| 1-year return | -0.3% | +4.1% |
| 5-year return | +20.5% | +9.3% |
| Volatility (ann.) | 14.6% | 12.2% |
| Beta vs S&P 500 | 0.48 | 0.40 |
| Max drawdown (3Y) | -13.4% | -11.1% |
| Market cap | $0.7B | $0.7B |
| P/E (trailing) | 7.7 | 13.4 |
| Dividend yield | 0.00% | 12.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAXS | PFN |
|---|---|---|
| 2022 | – | -17.6% |
| 2023 | +9.3% | +15.5% |
| 2024 | +19.5% | +15.8% |
| 2025 | +12.5% | +13.1% |
| 2026 | +0.2% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAXS and PFN good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PAXS and PFN?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.73 over the last year and 0.58 over 5 years.
Is PFN a good diversifier for PAXS?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
A reading of 0.74 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
$ curl https://www.pairbook.io/api/v1/pairs/paxs-vs-pfn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/paxs-vs-pfn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAXS correlations · PFN correlations
