diff --git a/python/mxnet/metric.py b/python/mxnet/metric.py
index ecb8e1c3bc22..2a33cf4d9d28 100644
--- a/python/mxnet/metric.py
+++ b/python/mxnet/metric.py
@@ -860,7 +860,7 @@ class MCC(EvalMetric):
 
     .. note::
 
-        This version of MCC only supports binary classification.
+        This version of MCC only supports binary classification.  See PCC.
 
     Parameters
     ----------
@@ -1476,6 +1476,136 @@ def update(self, labels, preds):
             self.global_num_inst += 1
 
 
+@register
+class PCC(EvalMetric):
+    """PCC is a multiclass equivalent for the Matthews correlation coefficient derived
+    from a discrete solution to the Pearson correlation coefficient.
+
+    .. math::
+        \\text{PCC} = \\frac {\\sum _{k}\\sum _{l}\\sum _{m}C_{kk}C_{lm}-C_{kl}C_{mk}}
+        {{\\sqrt {\\sum _{k}(\\sum _{l}C_{kl})(\\sum _{k'|k'\\neq k}\\sum _{l'}C_{k'l'})}}
+         {\\sqrt {\\sum _{k}(\\sum _{l}C_{lk})(\\sum _{k'|k'\\neq k}\\sum _{l'}C_{l'k'})}}}
+
+    defined in terms of a K x K confusion matrix C.
+
+    When there are more than two labels the PCC will no longer range between -1 and +1.
+    Instead the minimum value will be between -1 and 0 depending on the true distribution.
+    The maximum value is always +1.
+
+    Parameters
+    ----------
+    name : str
+        Name of this metric instance for display.
+    output_names : list of str, or None
+        Name of predictions that should be used when updating with update_dict.
+        By default include all predictions.
+    label_names : list of str, or None
+        Name of labels that should be used when updating with update_dict.
+        By default include all labels.
+
+    Examples
+    --------
+    >>> # In this example the network almost always predicts positive
+    >>> false_positives = 1000
+    >>> false_negatives = 1
+    >>> true_positives = 10000
+    >>> true_negatives = 1
+    >>> predicts = [mx.nd.array(
+        [[.3, .7]]*false_positives +
+        [[.7, .3]]*true_negatives +
+        [[.7, .3]]*false_negatives +
+        [[.3, .7]]*true_positives
+    )]
+    >>> labels  = [mx.nd.array(
+        [0]*(false_positives + true_negatives) +
+        [1]*(false_negatives + true_positives)
+    )]
+    >>> f1 = mx.metric.F1()
+    >>> f1.update(preds = predicts, labels = labels)
+    >>> pcc = mx.metric.PCC()
+    >>> pcc.update(preds = predicts, labels = labels)
+    >>> print f1.get()
+    ('f1', 0.95233560306652054)
+    >>> print pcc.get()
+    ('pcc', 0.01917751877733392)
+    """
+    def __init__(self, name='pcc',
+                 output_names=None, label_names=None,
+                 has_global_stats=True):
+        self.k = 2
+        super(PCC, self).__init__(
+            name=name, output_names=output_names, label_names=label_names,
+            has_global_stats=has_global_stats)
+
+    def _grow(self, inc):
+        self.lcm = numpy.pad(
+            self.lcm, ((0, inc), (0, inc)), 'constant', constant_values=(0))
+        self.gcm = numpy.pad(
+            self.gcm, ((0, inc), (0, inc)), 'constant', constant_values=(0))
+        self.k += inc
+
+    def _calc_mcc(self, cmat):
+        n = cmat.sum()
+        x = cmat.sum(axis=1)
+        y = cmat.sum(axis=0)
+        cov_xx = numpy.sum(x * (n - x))
+        cov_yy = numpy.sum(y * (n - y))
+        if cov_xx == 0 or cov_yy == 0:
+            return float('nan')
+        i = cmat.diagonal()
+        cov_xy = numpy.sum(i * n - x * y)
+        return cov_xy / (cov_xx * cov_yy) ** 0.5
+
+    def update(self, labels, preds):
+        """Updates the internal evaluation result.
+
+        Parameters
+        ----------
+        labels : list of `NDArray`
+            The labels of the data.
+
+        preds : list of `NDArray`
+            Predicted values.
+        """
+        labels, preds = check_label_shapes(labels, preds, True)
+
+        # update the confusion matrix
+        for label, pred in zip(labels, preds):
+            label = label.astype('int32').asnumpy()
+            pred = pred.argmax(axis=1).astype('int32').asnumpy()
+            n = max(pred.max(), label.max())
+            if n >= self.k:
+                self._grow(n + 1 - self.k)
+            bcm = numpy.zeros((self.k, self.k))
+            for i, j in zip(pred, label):
+                bcm[i, j] += 1
+            self.lcm += bcm
+            self.gcm += bcm
+
+        self.num_inst += 1
+        self.global_num_inst += 1
+
+    @property
+    def sum_metric(self):
+        return self._calc_mcc(self.lcm) * self.num_inst
+
+    @property
+    def global_sum_metric(self):
+        return self._calc_mcc(self.gcm) * self.global_num_inst
+
+    def reset(self):
+        """Resets the internal evaluation result to initial state."""
+        self.global_num_inst = 0.
+        self.gcm = numpy.zeros((self.k, self.k))
+        self.reset_local()
+
+    def reset_local(self):
+        """Resets the local portion of the internal evaluation results
+        to initial state."""
+        self.num_inst = 0.
+        self.lcm = numpy.zeros((self.k, self.k))
+
+
 @register
 class Loss(EvalMetric):
     """Dummy metric for directly printing loss.
diff --git a/tests/python/unittest/test_metric.py b/tests/python/unittest/test_metric.py
index 2821c4bbae3c..4b5b2047d595 100644
--- a/tests/python/unittest/test_metric.py
+++ b/tests/python/unittest/test_metric.py
@@ -34,6 +34,7 @@ def test_metrics():
     check_metric('mcc')
     check_metric('perplexity', -1)
     check_metric('pearsonr')
+    check_metric('pcc')
     check_metric('nll_loss')
     check_metric('loss')
     composite = mx.metric.create(['acc', 'f1'])
@@ -89,6 +90,7 @@ def test_global_metric():
     _check_global_metric('mcc', shape=(10,2), average='micro')
     _check_global_metric('perplexity', -1)
     _check_global_metric('pearsonr', use_same_shape=True)
+    _check_global_metric('pcc', shape=(10,2))
     _check_global_metric('nll_loss')
     _check_global_metric('loss')
     _check_global_metric('ce')
@@ -253,6 +255,76 @@ def test_pearsonr():
     _, pearsonr = metric.get()
     assert pearsonr == pearsonr_expected
 
+def cm_batch(cm):
+    # generate a batch yielding a given confusion matrix
+    n = len(cm)
+    # identity matrix
+    ident = [
+        [ 1.0 if i == j else 0.0 for i in range(n) ]
+        for j in range(n)
+    ]
+    labels = []
+    preds = []
+    for i in range(n):
+        for j in range(n):
+            labels += [ i ] * cm[i][j]
+            preds += [ ident[j] ] * cm[i][j]
+    return ([ mx.nd.array(labels, dtype='int32') ], [ mx.nd.array(preds) ])
+
+def test_pcc():
+    labels, preds = cm_batch([
+        [ 7, 3 ],
+        [ 2, 5 ],
+    ])
+    met_pcc = mx.metric.create('pcc')
+    met_pcc.update(labels, preds)
+    _, pcc = met_pcc.get()
+
+    # pcc should agree with mcc for binary classification
+    met_mcc = mx.metric.create('mcc')
+    met_mcc.update(labels, preds)
+    _, mcc = met_mcc.get()
+    np.testing.assert_almost_equal(pcc, mcc)
+
+    # pcc should agree with Pearson for binary classification
+    met_pear = mx.metric.create('pearsonr')
+    met_pear.update(labels, [p.argmax(axis=1) for p in preds])
+    _, pear = met_pear.get()
+    np.testing.assert_almost_equal(pcc, pear)
+
+    # check multiclass case against reference implementation
+    met_pcc.reset()
+    CM = [
+        [ 23, 13,  3 ],
+        [  7, 19, 11 ],
+        [  2,  5, 17 ],
+    ]
+    K = 3
+    ref = sum(
+        CM[k][k] * CM[l][m] - CM[k][l] * CM[m][k]
+        for k in range(K)
+        for l in range(K)
+        for m in range(K)
+    ) / (sum(
+        sum(CM[k][l] for l in range(K)) * sum(
+            sum(CM[f][g] for g in range(K))
+            for f in range(K)
+            if f != k
+        )
+        for k in range(K)
+    ) * sum(
+        sum(CM[l][k] for l in range(K)) * sum(
+            sum(CM[f][g] for f in range(K))
+            for g in range(K)
+            if g != k
+        )
+        for k in range(K)
+    )) ** 0.5
+    labels, preds = cm_batch(CM)
+    met_pcc.update(labels, preds)
+    _, pcc = met_pcc.get()
+    np.testing.assert_almost_equal(pcc, ref)
+
 def test_single_array_input():
     pred = mx.nd.array([[1,2,3,4]])
     label = pred + 0.1