ECF vs RMT: Correlation
Ellsworth Growth and Income Fund Ltd. (ECF) and Royce Micro-Cap Trust, Inc. (RMT) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECF and RMT?
Over the past 3 years, ECF and RMT moved with a correlation of 0.69, which is strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.69). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 234.4 %².
Within ECF's tracked universe of 19 assets, RMT comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 25.5 percentage points (+22.9% for ECF against +48.4% for RMT).
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 RMT: side by side
| ECF (Ellsworth Growth and Income Fund Ltd.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +22.9% | +48.4% |
| 5-year return | +25.8% | +80.1% |
| Volatility (ann.) | 16.5% | 20.5% |
| Beta vs S&P 500 | 0.71 | 1.09 |
| Max drawdown (3Y) | -16.8% | -26.4% |
| Market cap | $0.2B | $0.8B |
| P/E (trailing) | 3.9 | 8.5 |
| Dividend yield | 7.38% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECF | RMT |
|---|---|---|
| 2022 | -31.6% | -16.8% |
| 2023 | +8.0% | +15.8% |
| 2024 | +27.5% | +14.0% |
| 2025 | +30.0% | +16.1% |
| 2026 | +10.6% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECF and RMT good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ECF and RMT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.57 over the last year and 0.73 over 5 years.
Is RMT a good diversifier for ECF?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/ecf-vs-rmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ecf-vs-rmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ECF correlations · RMT correlations
