BCV vs NCZ: Correlation
Measured on weekly returns over the past three years, Bancroft Fund, Ltd. (BCV) and Virtus Convertible & Income Fund II (NCZ) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCV and NCZ?
Over the past 3 years, BCV and NCZ moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 236.9 %².
Few assets follow BCV as closely as NCZ, which ranks #3 of 20 tracked partners. Neither side won the trailing year by much: +28.3% against +28.2%.
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 NCZ: side by side
| BCV (Bancroft Fund, Ltd.) | NCZ (Virtus Convertible & Income Fund II) | |
|---|---|---|
| 1-year return | +28.3% | +28.2% |
| 5-year return | +22.7% | +29.5% |
| Volatility (ann.) | 17.6% | 18.8% |
| Beta vs S&P 500 | 0.68 | 0.94 |
| Max drawdown (3Y) | -14.6% | -19.5% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 3.7 | 4.3 |
| Dividend yield | 5.42% | 9.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCV | NCZ |
|---|---|---|
| 2022 | -33.7% | -35.8% |
| 2023 | +5.6% | +17.8% |
| 2024 | +19.8% | +18.4% |
| 2025 | +33.4% | +23.2% |
| 2026 | +16.1% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCV and NCZ good diversifiers for each other?
Only partially. A correlation of 0.71 means BCV and NCZ 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 NCZ?
The BCV/NCZ correlation stands at 0.71 on a 3-year window (1 year: 0.68, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is NCZ a good diversifier for BCV?
Only partially. A correlation of 0.71 means BCV and NCZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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/bcv-vs-ncz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bcv-vs-ncz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCV correlations · NCZ correlations
