EFT vs JFR: Correlation
Measured on weekly returns over the past three years, Eaton Vance Floating Rate Income Trust (EFT) and Nuveen Floating Rate Income Fund (JFR) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFT and JFR?
Over the past 3 years, EFT and JFR moved with a correlation of 0.71, which is strong. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 76.0 %².
Within EFT's tracked universe of 14 assets, JFR comes in at #6 by 3-year correlation. On 12-month performance JFR holds a 7.1-point edge, -4.8% against +2.3%.
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.
EFT vs JFR: side by side
| EFT (Eaton Vance Floating Rate Income Trust) | JFR (Nuveen Floating Rate Income Fund) | |
|---|---|---|
| 1-year return | -4.8% | +2.3% |
| 5-year return | +13.9% | +31.7% |
| Volatility (ann.) | 10.9% | 9.7% |
| Beta vs S&P 500 | 0.49 | 0.35 |
| Max drawdown (3Y) | -17.5% | -15.3% |
| Market cap | – | – |
| P/E (trailing) | 42.4 | 22.4 |
| Dividend yield | 9.41% | 13.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFT | JFR |
|---|---|---|
| 2022 | -19.7% | -15.1% |
| 2023 | +27.1% | +16.7% |
| 2024 | +13.2% | +21.9% |
| 2025 | -3.8% | -0.7% |
| 2026 | -1.6% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFT and JFR good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EFT and JFR?
As of 2026-08-27, the correlation of weekly returns between EFT and JFR is 0.71 over 3 years, 0.80 over 1 year and 0.71 over 5 years.
Is JFR a good diversifier for EFT?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/eft-vs-jfr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eft-vs-jfr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFT correlations · JFR correlations
