FLC vs MELI: Correlation
Measured on weekly returns over the past three years, Flaherty & Crumrine Total Return Fund Inc (FLC) and MercadoLibre, Inc. (MELI) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and MELI?
Over the past 3 years, FLC and MELI moved with a correlation of 0.51, which is moderate. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.51). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 204.7 %².
Among the 22 assets we track against FLC, MELI ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FLC outperformed by 23.8 percentage points (+3.8% for FLC against -20.0% for MELI). Risk is not evenly split, since MELI carries 3.2 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.
FLC vs MELI: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | MELI (MercadoLibre, Inc.) | |
|---|---|---|
| 1-year return | +3.8% | -20.0% |
| 5-year return | -0.2% | +2.8% |
| Volatility (ann.) | 11.3% | 35.7% |
| Beta vs S&P 500 | 0.48 | 1.04 |
| Max drawdown (3Y) | -10.5% | -40.8% |
| Market cap | $0.2B | $97.9B |
| P/E (trailing) | 9.3 | 53.2 |
| Dividend yield | 7.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | MELI |
|---|---|---|
| 2022 | -25.1% | -37.2% |
| 2023 | -0.8% | +85.7% |
| 2024 | +23.1% | +8.2% |
| 2025 | +12.4% | +18.5% |
| 2026 | -0.4% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and MELI good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLC and MELI?
The FLC/MELI correlation stands at 0.51 on a 3-year window (1 year: 0.39, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is MELI a good diversifier for FLC?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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/flc-vs-meli.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flc-vs-meli/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLC correlations · MELI correlations
