PCN vs PDI: Correlation
Measured on weekly returns over the past three years, Pimco Corporate & Income Strategy Fund (PCN) and PIMCO Dynamic Income Fund (PDI) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCN and PDI?
Over the past 3 years, PCN and PDI moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 153.8 %².
In PCN's tracked universe of 11 assets, PDI sits right near the top at #1. On 12-month performance PCN holds a 8.7-point edge, +1.1% against -7.6%.
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.
PCN vs PDI: side by side
| PCN (Pimco Corporate & Income Strategy Fund) | PDI (PIMCO Dynamic Income Fund) | |
|---|---|---|
| 1-year return | +1.1% | -7.6% |
| 5-year return | +8.7% | +11.0% |
| Volatility (ann.) | 14.8% | 14.3% |
| Beta vs S&P 500 | 0.48 | 0.52 |
| Max drawdown (3Y) | -22.0% | -14.4% |
| Market cap | – | $7.1B |
| P/E (trailing) | 9.2 | 7.5 |
| Dividend yield | 11.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCN | PDI |
|---|---|---|
| 2022 | -22.9% | -17.0% |
| 2023 | +16.3% | +12.0% |
| 2024 | +19.6% | +17.2% |
| 2025 | +5.6% | +11.1% |
| 2026 | -0.5% | -3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCN and PDI good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PCN and PDI?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.68 over the last year and 0.75 over 5 years.
Is PDI a good diversifier for PCN?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/pcn-vs-pdi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pcn-vs-pdi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PCN correlations · PDI correlations
