PCN vs VLT: Correlation
Measured on weekly returns over the past three years, Pimco Corporate & Income Strategy Fund (PCN) and Invesco High Income Trust II (VLT) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCN and VLT?
Across a 3-year window, the weekly returns of PCN and VLT correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 103.7 %².
Within PCN's tracked universe of 11 assets, VLT comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +1.1% for PCN and -1.3% for VLT.
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 VLT: side by side
| PCN (Pimco Corporate & Income Strategy Fund) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | +1.1% | -1.3% |
| 5-year return | +8.7% | +12.4% |
| Volatility (ann.) | 14.8% | 10.0% |
| Beta vs S&P 500 | 0.48 | 0.47 |
| Max drawdown (3Y) | -22.0% | -13.4% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | 13.9 |
| Dividend yield | 11.51% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCN | VLT |
|---|---|---|
| 2022 | -22.9% | -20.9% |
| 2023 | +16.3% | +13.1% |
| 2024 | +19.6% | +17.3% |
| 2025 | +5.6% | +13.2% |
| 2026 | -0.5% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCN and VLT good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PCN and VLT?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.79 over the last year and 0.65 over 5 years.
Is VLT a good diversifier for PCN?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pcn-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pcn-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PCN correlations · VLT correlations
