EQIX vs NCZ: Correlation
Equinix (EQIX) and Virtus Convertible & Income Fund II (NCZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and NCZ?
Over the past 3 years, EQIX and NCZ moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 198.8 %².
Among the 30 assets we track against EQIX, NCZ ranks #13 by 3-year correlation. On 12-month performance EQIX holds a 10.9-point edge, +39.1% against +28.2%.
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.
EQIX vs NCZ: side by side
| EQIX (Equinix) | NCZ (Virtus Convertible & Income Fund II) | |
|---|---|---|
| 1-year return | +39.1% | +28.2% |
| 5-year return | +41.6% | +29.5% |
| Volatility (ann.) | 24.4% | 18.8% |
| Beta vs S&P 500 | 0.63 | 0.94 |
| Max drawdown (3Y) | -24.6% | -19.5% |
| Market cap | $106.2B | $0.3B |
| P/E (trailing) | 69.4 | 4.3 |
| Dividend yield | 1.82% | 9.33% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EQIX | NCZ |
|---|---|---|
| 2022 | -21.1% | -35.8% |
| 2023 | +25.4% | +17.8% |
| 2024 | +19.5% | +18.4% |
| 2025 | -16.9% | +23.2% |
| 2026 | +42.6% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and NCZ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EQIX and NCZ?
As of 2026-08-27, the correlation of weekly returns between EQIX and NCZ is 0.43 over 3 years, 0.35 over 1 year and 0.52 over 5 years.
Is NCZ a good diversifier for EQIX?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/eqix-vs-ncz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqix-vs-ncz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQIX correlations · NCZ correlations
