FLC vs WRAP: Correlation
Flaherty & Crumrine Total Return Fund Inc (FLC) and Wrap Technologies, Inc. (WRAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and WRAP?
Across a 3-year window, the weekly returns of FLC and WRAP correlate at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.35 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 421.7 %².
Out of 22 assets tracked against FLC, WRAP lands near the bottom at #19. Correlation aside, the last 12 months split them widely, with WRAP ahead by 26.5 points (+3.8% versus +30.3%). Note the risk asymmetry: WRAP runs 9.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WRAP: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | +3.8% | +30.3% |
| 5-year return | -0.2% | -77.2% |
| Volatility (ann.) | 11.3% | 106.0% |
| Beta vs S&P 500 | 0.48 | 2.11 |
| Max drawdown (3Y) | -10.5% | -76.8% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 7.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | WRAP |
|---|---|---|
| 2022 | -25.1% | -57.0% |
| 2023 | -0.8% | +83.4% |
| 2024 | +23.1% | -31.6% |
| 2025 | +12.4% | +12.3% |
| 2026 | -0.4% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and WRAP good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FLC and WRAP?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.21 over the last year and 0.27 over 5 years.
Is WRAP a good diversifier for FLC?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flc-vs-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flc-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLC correlations · WRAP correlations
