ECF vs NCV: Correlation
Measured on weekly returns over the past three years, Ellsworth Growth and Income Fund Ltd. (ECF) and Virtus Convertible & Income Fund (NCV) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECF and NCV?
Over the past 3 years, ECF and NCV moved with a correlation of 0.74, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 225.3 %².
Few assets follow ECF as closely as NCV, which ranks #3 of 19 tracked partners. Neither side won the trailing year by much: +22.9% against +26.0%.
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 NCV: side by side
| ECF (Ellsworth Growth and Income Fund Ltd.) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +22.9% | +26.0% |
| 5-year return | +25.8% | +22.6% |
| Volatility (ann.) | 16.5% | 18.3% |
| Beta vs S&P 500 | 0.71 | 0.88 |
| Max drawdown (3Y) | -16.8% | -17.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.9 | 4.5 |
| Dividend yield | 7.38% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECF | NCV |
|---|---|---|
| 2022 | -31.6% | -33.9% |
| 2023 | +8.0% | +12.7% |
| 2024 | +27.5% | +16.2% |
| 2025 | +30.0% | +22.6% |
| 2026 | +10.6% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECF and NCV good diversifiers for each other?
Only partially. A correlation of 0.74 means ECF and NCV 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 ECF and NCV?
The ECF/NCV correlation stands at 0.74 on a 3-year window (1 year: 0.76, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is NCV a good diversifier for ECF?
Only partially. A correlation of 0.74 means ECF and NCV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 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/ecf-vs-ncv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ecf-vs-ncv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECF correlations · NCV correlations
