BFLY vs GCV: Correlation
How closely do Butterfly Network, Inc. (BFLY) and Gabelli Convertible and Income Securities Fund, Inc. (The) (GCV) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFLY and GCV?
Across a 3-year window, the weekly returns of BFLY and GCV correlate at 0.43, moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.43). Stretching to 5 years gives 0.27, with an annualized covariance of 664.7 %².
Within BFLY's tracked universe of 11 assets, GCV comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BFLY ahead by 428.7 points (+455.4% versus +26.7%). Note the risk asymmetry: BFLY runs 6.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BFLY vs GCV: side by side
| BFLY (Butterfly Network, Inc.) | GCV (Gabelli Convertible and Income Securities Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +455.4% | +26.7% |
| 5-year return | -27.5% | +23.7% |
| Volatility (ann.) | 98.1% | 15.8% |
| Beta vs S&P 500 | 2.32 | 0.57 |
| Max drawdown (3Y) | -72.4% | -18.3% |
| Market cap | $2.3B | $0.1B |
| P/E (trailing) | – | 4.5 |
| Dividend yield | 0.00% | 10.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFLY | GCV |
|---|---|---|
| 2022 | -63.2% | -23.9% |
| 2023 | -56.1% | -15.6% |
| 2024 | +188.9% | +19.9% |
| 2025 | +21.8% | +22.9% |
| 2026 | +129.5% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFLY and GCV good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BFLY and GCV?
The BFLY/GCV correlation stands at 0.43 on a 3-year window (1 year: 0.23, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is GCV a good diversifier for BFLY?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/bfly-vs-gcv.json
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Related comparisons
Hubs: BFLY correlations · GCV correlations
