FFA vs NTZ: Correlation
First Trust Enhanced Equity Income Fund (FFA) and Natuzzi, S.p.A. (NTZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFA and NTZ?
On 3 years of weekly data the FFA/NTZ correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.34 over 3. The 5-year figure is 0.29, and annualized covariance runs at 263.8 %².
NTZ is close to the least connected end of FFA's tracked universe, ranking #17 of 20. The last year tells two different stories: FFA led by 84.0 percentage points, +17.3% for FFA against -66.7% for NTZ. Risk is not evenly split, since NTZ carries 3.5 times the volatility of the other side.
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.
FFA vs NTZ: side by side
| FFA (First Trust Enhanced Equity Income Fund) | NTZ (Natuzzi, S.p.A.) | |
|---|---|---|
| 1-year return | +17.3% | -66.7% |
| 5-year return | +54.8% | -93.4% |
| Volatility (ann.) | 14.9% | 52.2% |
| Beta vs S&P 500 | 0.93 | 1.05 |
| Max drawdown (3Y) | -19.9% | -86.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 5.7 | – |
| Dividend yield | 6.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FFA | NTZ |
|---|---|---|
| 2022 | -20.3% | -51.7% |
| 2023 | +24.7% | -12.0% |
| 2024 | +21.5% | -29.1% |
| 2025 | +14.2% | -50.8% |
| 2026 | +8.9% | -57.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFA and NTZ good diversifiers for each other?
Reasonably. At 0.34, FFA and NTZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FFA and NTZ?
The FFA/NTZ correlation stands at 0.34 on a 3-year window (1 year: 0.33, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is NTZ a good diversifier for FFA?
Reasonably. At 0.34, FFA and NTZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/ffa-vs-ntz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ffa-vs-ntz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FFA correlations · NTZ correlations
