PHK vs VGI: Correlation
Measured on weekly returns over the past three years, Pimco High Income Fund (PHK) and Virtus Global Multi-Sector Income Fund (VGI) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHK and VGI?
On 3 years of weekly data the PHK/VGI correlation comes out at 0.72, strong. The past 12 months show a weaker link (0.51) than the 3-year average (0.72). The 5-year figure is 0.66, and annualized covariance runs at 86.3 %².
Few assets follow PHK as closely as VGI, which ranks #2 of 11 tracked partners. Neither side won the trailing year by much: +4.6% against +3.8%.
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.
PHK vs VGI: side by side
| PHK (Pimco High Income Fund) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +4.6% | +3.8% |
| 5-year return | +18.6% | +11.9% |
| Volatility (ann.) | 11.8% | 10.3% |
| Beta vs S&P 500 | 0.36 | 0.38 |
| Max drawdown (3Y) | -14.5% | -11.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 9.0 | 7.8 |
| Dividend yield | 12.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHK | VGI |
|---|---|---|
| 2022 | -14.4% | -22.3% |
| 2023 | +18.8% | +13.4% |
| 2024 | +9.5% | +10.4% |
| 2025 | +12.6% | +16.1% |
| 2026 | +2.0% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHK and VGI good diversifiers for each other?
Only partially. A correlation of 0.72 means PHK and VGI 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 PHK and VGI?
As of 2026-08-27, the correlation of weekly returns between PHK and VGI is 0.72 over 3 years, 0.51 over 1 year and 0.66 over 5 years.
Is VGI a good diversifier for PHK?
Only partially. A correlation of 0.72 means PHK and VGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
A reading of 0.72 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/phk-vs-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/phk-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PHK correlations · VGI correlations
