ACV vs EW: Correlation
Virtus Diversified Income & Convertible Fund (ACV) and Edwards Lifesciences (EW) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and EW?
On 3 years of weekly data the ACV/EW correlation comes out at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 255.9 %².
By 3-year correlation, EW places #12 of the 17 assets tracked against ACV. The last year tells two different stories: ACV led by 16.2 percentage points, +27.4% for ACV against +11.2% for EW. One caveat on sizing: EW is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ACV vs EW: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | EW (Edwards Lifesciences) | |
|---|---|---|
| 1-year return | +27.4% | +11.2% |
| 5-year return | +45.0% | -23.8% |
| Volatility (ann.) | 19.4% | 31.6% |
| Beta vs S&P 500 | 1.02 | 0.81 |
| Max drawdown (3Y) | -23.5% | -37.5% |
| Market cap | $0.3B | $51.8B |
| P/E (trailing) | 5.1 | 54.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ACV | EW |
|---|---|---|
| 2022 | -36.0% | -42.4% |
| 2023 | +26.0% | +2.2% |
| 2024 | +15.4% | -2.9% |
| 2025 | +33.7% | +15.2% |
| 2026 | +7.0% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and EW good diversifiers for each other?
Reasonably. At 0.42, ACV and EW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ACV and EW?
The ACV/EW correlation stands at 0.42 on a 3-year window (1 year: 0.34, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is EW a good diversifier for ACV?
Reasonably. At 0.42, ACV and EW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/acv-vs-ew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acv-vs-ew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACV correlations · EW correlations
