CLIR vs NIE: Correlation
Measured on weekly returns over the past three years, ClearSign Technologies Corporation (CLIR) and Virtus Equity & Convertible Income Fund (NIE) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLIR and NIE?
On 3 years of weekly data the CLIR/NIE correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.39 over 3. The 5-year figure is 0.35, and annualized covariance runs at 522.4 %².
By 3-year correlation, NIE places #5 of the 10 assets tracked against CLIR. The last year tells two different stories: NIE led by 40.0 percentage points, -23.2% for CLIR against +16.8% for NIE. One caveat on sizing: CLIR is 6.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CLIR vs NIE: side by side
| CLIR (ClearSign Technologies Corporation) | NIE (Virtus Equity & Convertible Income Fund) | |
|---|---|---|
| 1-year return | -23.2% | +16.8% |
| 5-year return | -85.3% | +55.1% |
| Volatility (ann.) | 89.0% | 14.9% |
| Beta vs S&P 500 | 2.06 | 0.92 |
| Max drawdown (3Y) | -78.5% | -20.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLIR | NIE |
|---|---|---|
| 2022 | -60.9% | -26.7% |
| 2023 | +105.6% | +26.7% |
| 2024 | +29.7% | +28.6% |
| 2025 | -61.1% | +12.2% |
| 2026 | -19.1% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLIR and NIE good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLIR and NIE?
The CLIR/NIE correlation stands at 0.39 on a 3-year window (1 year: 0.32, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is NIE a good diversifier for CLIR?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/clir-vs-nie.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clir-vs-nie/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLIR correlations · NIE correlations
