CLM vs FFA: Correlation
Measured on weekly returns over the past three years, Cornerstone Strategic Investment Fund, Inc. (CLM) and First Trust Enhanced Equity Income Fund (FFA) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLM and FFA?
Over the past 3 years, CLM and FFA moved with a correlation of 0.66, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 196.3 %².
Among the 10 assets we track against CLM, FFA ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FFA ahead by 18.7 points (-1.4% versus +17.3%).
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.
CLM vs FFA: side by side
| CLM (Cornerstone Strategic Investment Fund, Inc.) | FFA (First Trust Enhanced Equity Income Fund) | |
|---|---|---|
| 1-year return | -1.4% | +17.3% |
| 5-year return | +31.9% | +54.8% |
| Volatility (ann.) | 19.8% | 14.9% |
| Beta vs S&P 500 | 0.86 | 0.93 |
| Max drawdown (3Y) | -23.9% | -19.9% |
| Market cap | $2.1B | $0.5B |
| P/E (trailing) | 6.1 | 5.7 |
| Dividend yield | 21.96% | 6.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLM | FFA |
|---|---|---|
| 2022 | -36.7% | -20.3% |
| 2023 | +17.5% | +24.7% |
| 2024 | +41.6% | +21.5% |
| 2025 | +18.5% | +14.2% |
| 2026 | -9.7% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLM and FFA good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLM and FFA?
The CLM/FFA correlation stands at 0.66 on a 3-year window (1 year: 0.63, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is FFA a good diversifier for CLM?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clm-vs-ffa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clm-vs-ffa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLM correlations · FFA correlations
