AVK vs GCV: Correlation
Measured on weekly returns over the past three years, Advent Convertible and Income Fund (AVK) and Gabelli Convertible and Income Securities Fund, Inc. (The) (GCV) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and GCV?
On 3 years of weekly data the AVK/GCV correlation comes out at 0.69, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.69 over 3. The 5-year figure is 0.49, and annualized covariance runs at 180.0 %².
Within AVK's tracked universe of 12 assets, GCV comes in at #7 by 3-year correlation. The trailing year gives GCV the advantage: +12.6% versus +26.7%, a 14.1-point spread.
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.
AVK vs GCV: side by side
| AVK (Advent Convertible and Income Fund) | GCV (Gabelli Convertible and Income Securities Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +12.6% | +26.7% |
| 5-year return | +28.2% | +23.7% |
| Volatility (ann.) | 16.6% | 15.8% |
| Beta vs S&P 500 | 0.83 | 0.57 |
| Max drawdown (3Y) | -17.7% | -18.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 3.8 | 4.5 |
| Dividend yield | 11.20% | 10.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | GCV |
|---|---|---|
| 2022 | -34.5% | -23.9% |
| 2023 | +18.1% | -15.6% |
| 2024 | +19.4% | +19.9% |
| 2025 | +19.6% | +22.9% |
| 2026 | +7.9% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and GCV good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVK and GCV?
As of 2026-08-27, the correlation of weekly returns between AVK and GCV is 0.69 over 3 years, 0.66 over 1 year and 0.49 over 5 years.
Is GCV a good diversifier for AVK?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/avk-vs-gcv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avk-vs-gcv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVK correlations · GCV correlations
