EFR vs WRAP: Correlation
Eaton Vance Senior Floating-Rate Fund (EFR) and Wrap Technologies, Inc. (WRAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFR and WRAP?
On 3 years of weekly data the EFR/WRAP correlation comes out at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.35 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 396.3 %².
WRAP is close to the least connected end of EFR's tracked universe, ranking #13 of 16. The last year tells two different stories: WRAP led by 32.6 percentage points, -2.3% for EFR against +30.3% for WRAP. One caveat on sizing: WRAP is 9.9 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.
EFR vs WRAP: side by side
| EFR (Eaton Vance Senior Floating-Rate Fund) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | -2.3% | +30.3% |
| 5-year return | +16.8% | -77.2% |
| Volatility (ann.) | 10.7% | 106.0% |
| Beta vs S&P 500 | 0.45 | 2.11 |
| Max drawdown (3Y) | -18.3% | -76.8% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 9.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFR | WRAP |
|---|---|---|
| 2022 | -18.8% | -57.0% |
| 2023 | +29.2% | +83.4% |
| 2024 | +11.3% | -31.6% |
| 2025 | -4.9% | +12.3% |
| 2026 | -0.4% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFR and WRAP good diversifiers for each other?
Reasonably. At 0.35, EFR and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EFR and WRAP?
As of 2026-08-27, the correlation of weekly returns between EFR and WRAP is 0.35 over 3 years, 0.23 over 1 year and 0.23 over 5 years.
Is WRAP a good diversifier for EFR?
Reasonably. At 0.35, EFR and WRAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efr-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFR correlations · WRAP correlations
