CLM vs JCE: Correlation
Measured on weekly returns over the past three years, Cornerstone Strategic Investment Fund, Inc. (CLM) and Nuveen Core Equity Alpha Fund (JCE) 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 JCE?
Over the past 3 years, CLM and JCE moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 204.9 %².
Among the 10 assets we track against CLM, JCE ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JCE ahead by 19.5 points (-1.4% versus +18.1%).
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 JCE: side by side
| CLM (Cornerstone Strategic Investment Fund, Inc.) | JCE (Nuveen Core Equity Alpha Fund) | |
|---|---|---|
| 1-year return | -1.4% | +18.1% |
| 5-year return | +31.9% | +72.6% |
| Volatility (ann.) | 19.8% | 15.7% |
| Beta vs S&P 500 | 0.86 | 0.91 |
| Max drawdown (3Y) | -23.9% | -19.0% |
| Market cap | $2.1B | – |
| P/E (trailing) | 6.1 | 6.3 |
| Dividend yield | 21.96% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLM | JCE |
|---|---|---|
| 2022 | -36.7% | -14.3% |
| 2023 | +17.5% | +10.7% |
| 2024 | +41.6% | +27.9% |
| 2025 | +18.5% | +9.1% |
| 2026 | -9.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLM and JCE good diversifiers for each other?
To a limited degree. At 0.66 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 CLM and JCE?
As of 2026-08-27, the correlation of weekly returns between CLM and JCE is 0.66 over 3 years, 0.59 over 1 year and 0.47 over 5 years.
Is JCE a good diversifier for CLM?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 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/clm-vs-jce.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clm-vs-jce/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLM correlations · JCE correlations
