ECAT vs TSI: Correlation
BlackRock ESG Capital Allocation Term Trust (ECAT) and TCW Strategic Income Fund, Inc. (TSI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECAT and TSI?
Over the past 3 years, ECAT and TSI moved with a correlation of 0.50, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.50 over 3 years. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 52.2 %².
TSI is close to the least connected end of ECAT's tracked universe, ranking #8 of 12. Their recent paths diverged sharply: over the last 12 months ECAT outperformed by 17.6 percentage points (+14.7% for ECAT against -2.9% for TSI). Risk is not evenly split, since ECAT carries 2.2 times the volatility of the other side.
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.
ECAT vs TSI: side by side
| ECAT (BlackRock ESG Capital Allocation Term Trust) | TSI (TCW Strategic Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | -2.9% |
| 5-year return | +56.8% | +12.9% |
| Volatility (ann.) | 15.2% | 6.9% |
| Beta vs S&P 500 | 0.79 | 0.21 |
| Max drawdown (3Y) | -15.8% | -8.3% |
| Market cap | $1.5B | $0.3B |
| P/E (trailing) | 7.2 | 10.7 |
| Dividend yield | 0.00% | 5.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECAT | TSI |
|---|---|---|
| 2022 | -21.9% | -12.8% |
| 2023 | +32.4% | +7.1% |
| 2024 | +20.0% | +13.5% |
| 2025 | +16.6% | +9.7% |
| 2026 | +15.6% | -6.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECAT and TSI good diversifiers for each other?
Only partially. A correlation of 0.50 means ECAT and TSI 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 ECAT and TSI?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.38 over the last year and 0.46 over 5 years.
Is TSI a good diversifier for ECAT?
Only partially. A correlation of 0.50 means ECAT and TSI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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.
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Related comparisons
Hubs: ECAT correlations · TSI correlations
