ACV vs NIE: Correlation
How closely do Virtus Diversified Income & Convertible Fund (ACV) and Virtus Equity & Convertible Income Fund (NIE) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and NIE?
Across a 3-year window, the weekly returns of ACV and NIE correlate at 0.78, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 226.7 %².
By 3-year correlation, NIE places #5 of the 17 assets tracked against ACV. On 12-month performance ACV holds a 10.6-point edge, +27.4% against +16.8%.
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.
ACV vs NIE: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | NIE (Virtus Equity & Convertible Income Fund) | |
|---|---|---|
| 1-year return | +27.4% | +16.8% |
| 5-year return | +45.0% | +55.1% |
| Volatility (ann.) | 19.4% | 14.9% |
| Beta vs S&P 500 | 1.02 | 0.92 |
| Max drawdown (3Y) | -23.5% | -20.8% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | 5.1 | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACV | NIE |
|---|---|---|
| 2022 | -36.0% | -26.7% |
| 2023 | +26.0% | +26.7% |
| 2024 | +15.4% | +28.6% |
| 2025 | +33.7% | +12.2% |
| 2026 | +7.0% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and NIE good diversifiers for each other?
To a limited degree. At 0.78 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 NIE?
The ACV/NIE correlation stands at 0.78 on a 3-year window (1 year: 0.77, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is NIE a good diversifier for ACV?
To a limited degree. At 0.78 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 0.78 mean?
A reading of 0.78 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/acv-vs-nie.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acv-vs-nie/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACV correlations · NIE correlations
