EARN vs GECC: Correlation
Measured on weekly returns over the past three years, Ellington Credit Company (EARN) and Great Elm Capital Corp. - Closed End Fund (GECC) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EARN and GECC?
On 3 years of weekly data the EARN/GECC correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 359.6 %².
By 3-year correlation, GECC places #8 of the 14 assets tracked against EARN. The last year tells two different stories: EARN led by 28.3 percentage points, -7.9% for EARN against -36.2% for GECC.
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.
EARN vs GECC: side by side
| EARN (Ellington Credit Company) | GECC (Great Elm Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -7.9% | -36.2% |
| 5-year return | -17.5% | -40.4% |
| Volatility (ann.) | 24.8% | 30.5% |
| Beta vs S&P 500 | 0.92 | 0.62 |
| Max drawdown (3Y) | -31.2% | -54.0% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 21.57% | 21.54% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EARN | GECC |
|---|---|---|
| 2022 | -25.0% | -47.4% |
| 2023 | +3.0% | +49.4% |
| 2024 | +24.6% | +18.9% |
| 2025 | -5.9% | -25.4% |
| 2026 | -5.0% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EARN and GECC good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EARN and GECC?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.53 over the last year and 0.33 over 5 years.
Is GECC a good diversifier for EARN?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/earn-vs-gecc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/earn-vs-gecc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EARN correlations · GECC correlations
