FLC vs VLT: Correlation
How closely do Flaherty & Crumrine Total Return Fund Inc (FLC) and Invesco High Income Trust II (VLT) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and VLT?
On 3 years of weekly data the FLC/VLT correlation comes out at 0.79, strong. The past 12 months show a weaker link (0.69) than the 3-year average (0.79). The 5-year figure is 0.69, and annualized covariance runs at 89.3 %².
VLT is one of the assets that tracks FLC most closely: it ranks #2 out of the 22 assets we track against FLC. On 12-month performance FLC holds a 5.1-point edge, +3.8% against -1.3%.
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.
FLC vs VLT: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | +3.8% | -1.3% |
| 5-year return | -0.2% | +12.4% |
| Volatility (ann.) | 11.3% | 10.0% |
| Beta vs S&P 500 | 0.48 | 0.47 |
| Max drawdown (3Y) | -10.5% | -13.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.3 | 13.9 |
| Dividend yield | 7.25% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | VLT |
|---|---|---|
| 2022 | -25.1% | -20.9% |
| 2023 | -0.8% | +13.1% |
| 2024 | +23.1% | +17.3% |
| 2025 | +12.4% | +13.2% |
| 2026 | -0.4% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and VLT good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLC and VLT?
The FLC/VLT correlation stands at 0.79 on a 3-year window (1 year: 0.69, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is VLT a good diversifier for FLC?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 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-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flc-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLC correlations · VLT correlations
