AVK vs NCV: Correlation
How closely do Advent Convertible and Income Fund (AVK) and Virtus Convertible & Income Fund (NCV) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and NCV?
Over the past 3 years, AVK and NCV moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 240.3 %².
In AVK's tracked universe of 12 assets, NCV sits right near the top at #1. The trailing year gives NCV the advantage: +12.6% versus +26.0%, a 13.4-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 NCV: side by side
| AVK (Advent Convertible and Income Fund) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +12.6% | +26.0% |
| 5-year return | +28.2% | +22.6% |
| Volatility (ann.) | 16.6% | 18.3% |
| Beta vs S&P 500 | 0.83 | 0.88 |
| Max drawdown (3Y) | -17.7% | -17.8% |
| Market cap | – | – |
| P/E (trailing) | 3.8 | 4.5 |
| Dividend yield | 11.20% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | NCV |
|---|---|---|
| 2022 | -34.5% | -33.9% |
| 2023 | +18.1% | +12.7% |
| 2024 | +19.4% | +16.2% |
| 2025 | +19.6% | +22.6% |
| 2026 | +7.9% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and NCV good diversifiers for each other?
Only partially. A correlation of 0.79 means AVK and NCV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AVK and NCV?
As of 2026-08-27, the correlation of weekly returns between AVK and NCV is 0.79 over 3 years, 0.85 over 1 year and 0.80 over 5 years.
Is NCV a good diversifier for AVK?
Only partially. A correlation of 0.79 means AVK and NCV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 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/avk-vs-ncv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avk-vs-ncv/)
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Related comparisons
Hubs: AVK correlations · NCV correlations
