CARR vs NFJ: Correlation
Carrier Global (CARR) and Virtus Dividend, Interest & Premium Strategy Fund (NFJ) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARR and NFJ?
Over the past 3 years, CARR and NFJ moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 262.7 %².
Among the 29 assets we track against CARR, NFJ ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NFJ outperformed by 42.6 percentage points (-11.6% for CARR against +31.0% for NFJ). Risk is not evenly split, since CARR carries 2.4 times the volatility of the other side.
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.
CARR vs NFJ: side by side
| CARR (Carrier Global) | NFJ (Virtus Dividend, Interest & Premium Strategy Fund) | |
|---|---|---|
| 1-year return | -11.6% | +31.0% |
| 5-year return | +8.8% | +50.8% |
| Volatility (ann.) | 32.6% | 13.8% |
| Beta vs S&P 500 | 1.21 | 0.73 |
| Max drawdown (3Y) | -38.1% | -17.0% |
| Market cap | $48.5B | $1.5B |
| P/E (trailing) | 42.0 | 9.8 |
| Dividend yield | 1.61% | 7.83% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CARR | NFJ |
|---|---|---|
| 2022 | -22.7% | -23.9% |
| 2023 | +41.5% | +21.3% |
| 2024 | +20.3% | +10.0% |
| 2025 | -21.8% | +12.4% |
| 2026 | +12.6% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARR and NFJ good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CARR and NFJ?
As of 2026-08-27, the correlation of weekly returns between CARR and NFJ is 0.58 over 3 years, 0.50 over 1 year and 0.62 over 5 years.
Is NFJ a good diversifier for CARR?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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/carr-vs-nfj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/carr-vs-nfj/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARR correlations · NFJ correlations
