ECF vs NSLR: Correlation
Ellsworth Growth and Income Fund Ltd. (ECF) and Neostellar Capital Corp. - Closed End Fund (NSLR) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECF and NSLR?
Over the past 3 years, ECF and NSLR moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 348.0 %².
By 3-year correlation, NSLR places #11 of the 19 assets tracked against ECF. Twelve-month performance is nearly a tie, at +22.9% for ECF and +21.3% for NSLR. One caveat on sizing: NSLR is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NSLR: side by side
| ECF (Ellsworth Growth and Income Fund Ltd.) | NSLR (Neostellar Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | +22.9% | +21.3% |
| 5-year return | +25.8% | +4.6% |
| Volatility (ann.) | 16.5% | 45.0% |
| Beta vs S&P 500 | 0.71 | 0.97 |
| Max drawdown (3Y) | -16.8% | -35.6% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | 3.9 | 2.5 |
| Dividend yield | 7.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECF | NSLR |
|---|---|---|
| 2022 | -31.6% | -70.3% |
| 2023 | +8.0% | +3.7% |
| 2024 | +27.5% | +49.2% |
| 2025 | +30.0% | +69.9% |
| 2026 | +10.6% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECF and NSLR 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 NSLR?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.56 over the last year and 0.48 over 5 years.
Is NSLR 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?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ecf-vs-nslr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecf-vs-nslr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECF correlations · NSLR correlations
