ECF vs FIP: Correlation
How closely do Ellsworth Growth and Income Fund Ltd. (ECF) and FTAI Infrastructure Inc. (FIP) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECF and FIP?
Over the past 3 years, ECF and FIP moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 440.3 %².
By 3-year correlation, FIP places #10 of the 19 assets tracked against ECF. The last year tells two different stories: ECF led by 50.4 percentage points, +22.9% for ECF against -27.5% for FIP. Note the risk asymmetry: FIP runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ECF vs FIP: side by side
| ECF (Ellsworth Growth and Income Fund Ltd.) | FIP (FTAI Infrastructure Inc.) | |
|---|---|---|
| 1-year return | +22.9% | -27.5% |
| 5-year return | +25.8% | n/a |
| Volatility (ann.) | 16.5% | 56.6% |
| Beta vs S&P 500 | 0.71 | 1.48 |
| Max drawdown (3Y) | -16.8% | -68.0% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | 3.9 | – |
| Dividend yield | 7.38% | 3.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECF | FIP |
|---|---|---|
| 2022 | -31.6% | – |
| 2023 | +8.0% | +36.9% |
| 2024 | +27.5% | +89.5% |
| 2025 | +30.0% | -34.9% |
| 2026 | +10.6% | -19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECF and FIP good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ECF and FIP?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.53 over the last year and 0.42 over 5 years.
Is FIP a good diversifier for ECF?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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.
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Related comparisons
Hubs: ECF correlations · FIP correlations
