PIM vs PPT: Correlation
Franklin Master Intermediate Income Trust Shares of (PIM) and Franklin Premier Income Trust Shares of Beneficial Interest (PPT) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIM and PPT?
Across a 3-year window, the weekly returns of PIM and PPT correlate at 0.73, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 57.7 %².
In PIM's tracked universe of 15 assets, PPT sits right near the top at #1. Their 12-month results are close: +3.2% for PIM against +2.4% for PPT.
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.
PIM vs PPT: side by side
| PIM (Franklin Master Intermediate Income Trust Shares of) | PPT (Franklin Premier Income Trust Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +3.2% | +2.4% |
| 5-year return | +16.1% | +15.6% |
| Volatility (ann.) | 9.2% | 8.6% |
| Beta vs S&P 500 | 0.26 | 0.24 |
| Max drawdown (3Y) | -6.4% | -5.9% |
| Market cap | $0.2B | – |
| P/E (trailing) | 14.4 | 11.1 |
| Dividend yield | 8.35% | 9.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIM | PPT |
|---|---|---|
| 2022 | -12.5% | -7.7% |
| 2023 | +8.4% | +7.4% |
| 2024 | +10.9% | +8.8% |
| 2025 | +10.9% | +8.4% |
| 2026 | +0.3% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIM and PPT 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 PIM and PPT?
As of 2026-08-27, the correlation of weekly returns between PIM and PPT is 0.73 over 3 years, 0.71 over 1 year and 0.69 over 5 years.
Is PPT a good diversifier for PIM?
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/pim-vs-ppt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pim-vs-ppt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PIM correlations · PPT correlations
