ACV vs NCV: Correlation
Virtus Diversified Income & Convertible Fund (ACV) and Virtus Convertible & Income Fund (NCV) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and NCV?
Over the past 3 years, ACV and NCV moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 275.2 %².
By 3-year correlation, NCV places #6 of the 17 assets tracked against ACV. Their 12-month results are close: +27.4% for ACV against +26.0% for NCV.
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 NCV: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +27.4% | +26.0% |
| 5-year return | +45.0% | +22.6% |
| Volatility (ann.) | 19.4% | 18.3% |
| Beta vs S&P 500 | 1.02 | 0.88 |
| Max drawdown (3Y) | -23.5% | -17.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.1 | 4.5 |
| Dividend yield | 0.00% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACV | NCV |
|---|---|---|
| 2022 | -36.0% | -33.9% |
| 2023 | +26.0% | +12.7% |
| 2024 | +15.4% | +16.2% |
| 2025 | +33.7% | +22.6% |
| 2026 | +7.0% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and NCV good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ACV and NCV?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.74 over the last year and 0.78 over 5 years.
Is NCV a good diversifier for ACV?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 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/acv-vs-ncv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acv-vs-ncv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACV correlations · NCV correlations
