EFR vs FRA: Correlation
Measured on weekly returns over the past three years, Eaton Vance Senior Floating-Rate Fund (EFR) and Blackrock Floating Rate Income Strategies Fund Inc (FRA) 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 EFR and FRA?
On 3 years of weekly data the EFR/FRA correlation comes out at 0.74, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.74 over 3. The 5-year figure is 0.73, and annualized covariance runs at 91.4 %².
Few assets follow EFR as closely as FRA, which ranks #3 of 16 tracked partners. Twelve-month performance is nearly a tie, at -2.3% for EFR and -6.5% for FRA.
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.
EFR vs FRA: side by side
| EFR (Eaton Vance Senior Floating-Rate Fund) | FRA (Blackrock Floating Rate Income Strategies Fund Inc) | |
|---|---|---|
| 1-year return | -2.3% | -6.5% |
| 5-year return | +16.8% | +37.4% |
| Volatility (ann.) | 10.7% | 11.6% |
| Beta vs S&P 500 | 0.45 | 0.44 |
| Max drawdown (3Y) | -18.3% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 20.6 | 15.6 |
| Dividend yield | 9.21% | 13.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFR | FRA |
|---|---|---|
| 2022 | -18.8% | -10.6% |
| 2023 | +29.2% | +25.5% |
| 2024 | +11.3% | +21.6% |
| 2025 | -4.9% | -3.7% |
| 2026 | -0.4% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFR and FRA good diversifiers for each other?
Only partially. A correlation of 0.74 means EFR and FRA 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 EFR and FRA?
The EFR/FRA correlation stands at 0.74 on a 3-year window (1 year: 0.72, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is FRA a good diversifier for EFR?
Only partially. A correlation of 0.74 means EFR and FRA 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/efr-vs-fra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efr-vs-fra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EFR correlations · FRA correlations
