BCV vs NCV: Correlation
Bancroft Fund, Ltd. (BCV) and Virtus Convertible & Income Fund (NCV) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCV and NCV?
On 3 years of weekly data the BCV/NCV correlation comes out at 0.73, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.78, and annualized covariance runs at 236.2 %².
Few assets follow BCV as closely as NCV, which ranks #2 of 20 tracked partners. Neither side won the trailing year by much: +28.3% against +26.0%.
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.
BCV vs NCV: side by side
| BCV (Bancroft Fund, Ltd.) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +28.3% | +26.0% |
| 5-year return | +22.7% | +22.6% |
| Volatility (ann.) | 17.6% | 18.3% |
| Beta vs S&P 500 | 0.68 | 0.88 |
| Max drawdown (3Y) | -14.6% | -17.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 3.7 | 4.5 |
| Dividend yield | 5.42% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCV | NCV |
|---|---|---|
| 2022 | -33.7% | -33.9% |
| 2023 | +5.6% | +12.7% |
| 2024 | +19.8% | +16.2% |
| 2025 | +33.4% | +22.6% |
| 2026 | +16.1% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCV and NCV good diversifiers for each other?
Only partially. A correlation of 0.73 means BCV 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 BCV and NCV?
As of 2026-08-27, the correlation of weekly returns between BCV and NCV is 0.73 over 3 years, 0.73 over 1 year and 0.78 over 5 years.
Is NCV a good diversifier for BCV?
Only partially. A correlation of 0.73 means BCV 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 0.73 mean?
A reading of 0.73 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
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Related comparisons
Hubs: BCV correlations · NCV correlations
