PDI vs PFL: Correlation
Measured on weekly returns over the past three years, PIMCO Dynamic Income Fund (PDI) and PIMCO Income Strategy Fund Shares of Beneficial Interest (PFL) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDI and PFL?
On 3 years of weekly data the PDI/PFL correlation comes out at 0.74, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.74). The 5-year figure is 0.77, and annualized covariance runs at 127.2 %².
In PDI's tracked universe of 13 assets, PFL sits right near the top at #1. Over the last 12 months PFL came out ahead by 8.7 percentage points (-7.6% 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.
PDI vs PFL: side by side
| PDI (PIMCO Dynamic Income Fund) | PFL (PIMCO Income Strategy Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -7.6% | +1.1% |
| 5-year return | +11.0% | +1.9% |
| Volatility (ann.) | 14.3% | 12.0% |
| Beta vs S&P 500 | 0.52 | 0.39 |
| Max drawdown (3Y) | -14.4% | -11.1% |
| Market cap | $7.1B | – |
| P/E (trailing) | 7.5 | 9.6 |
| Dividend yield | 0.00% | 12.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDI | PFL |
|---|---|---|
| 2022 | -17.0% | -18.0% |
| 2023 | +12.0% | +17.2% |
| 2024 | +17.2% | +11.4% |
| 2025 | +11.1% | +13.0% |
| 2026 | -3.2% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDI and PFL good diversifiers for each other?
Only partially. A correlation of 0.74 means PDI 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 PDI and PFL?
The PDI/PFL correlation stands at 0.74 on a 3-year window (1 year: 0.58, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is PFL a good diversifier for PDI?
Only partially. A correlation of 0.74 means PDI 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?
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/pdi-vs-pfl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pdi-vs-pfl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PDI correlations · PFL correlations
