CRF vs FFA: Correlation
How closely do Cornerstone Total Return Fund, Inc. (The) (CRF) and First Trust Enhanced Equity Income Fund (FFA) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRF and FFA?
On 3 years of weekly data the CRF/FFA correlation comes out at 0.65, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 209.0 %².
By 3-year correlation, FFA places #5 of the 12 assets tracked against CRF. Correlation aside, the last 12 months split them widely, with FFA ahead by 19.0 points (-1.7% 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.
CRF vs FFA: side by side
| CRF (Cornerstone Total Return Fund, Inc. (The)) | FFA (First Trust Enhanced Equity Income Fund) | |
|---|---|---|
| 1-year return | -1.7% | +17.3% |
| 5-year return | +29.2% | +54.8% |
| Volatility (ann.) | 21.5% | 14.9% |
| Beta vs S&P 500 | 0.91 | 0.93 |
| Max drawdown (3Y) | -29.6% | -19.9% |
| Market cap | $1.1B | $0.5B |
| P/E (trailing) | 6.3 | 5.7 |
| Dividend yield | 21.80% | 6.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRF | FFA |
|---|---|---|
| 2022 | -36.7% | -20.3% |
| 2023 | +19.4% | +24.7% |
| 2024 | +44.5% | +21.5% |
| 2025 | +12.5% | +14.2% |
| 2026 | -9.2% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRF and FFA good diversifiers for each other?
Only partially. A correlation of 0.65 means CRF and FFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CRF and FFA?
As of 2026-08-27, the correlation of weekly returns between CRF and FFA is 0.65 over 3 years, 0.66 over 1 year and 0.57 over 5 years.
Is FFA a good diversifier for CRF?
Only partially. A correlation of 0.65 means CRF and FFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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/crf-vs-ffa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crf-vs-ffa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRF correlations · FFA correlations
