FRA vs JFR: Correlation
Measured on weekly returns over the past three years, Blackrock Floating Rate Income Strategies Fund Inc (FRA) and Nuveen Floating Rate Income Fund (JFR) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRA and JFR?
On 3 years of weekly data the FRA/JFR correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.71 over 3. The 5-year figure is 0.73, and annualized covariance runs at 81.0 %².
By 3-year correlation, JFR places #5 of the 14 assets tracked against FRA. The trailing year gives JFR the advantage: -6.5% versus +2.3%, a 8.8-point spread.
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.
FRA vs JFR: side by side
| FRA (Blackrock Floating Rate Income Strategies Fund Inc) | JFR (Nuveen Floating Rate Income Fund) | |
|---|---|---|
| 1-year return | -6.5% | +2.3% |
| 5-year return | +37.4% | +31.7% |
| Volatility (ann.) | 11.6% | 9.7% |
| Beta vs S&P 500 | 0.44 | 0.35 |
| Max drawdown (3Y) | -18.8% | -15.3% |
| Market cap | – | – |
| P/E (trailing) | 15.6 | 22.4 |
| Dividend yield | 13.61% | 13.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRA | JFR |
|---|---|---|
| 2022 | -10.6% | -15.1% |
| 2023 | +25.5% | +16.7% |
| 2024 | +21.6% | +21.9% |
| 2025 | -3.7% | -0.7% |
| 2026 | +1.5% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRA and JFR good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FRA and JFR?
As of 2026-08-27, the correlation of weekly returns between FRA and JFR is 0.71 over 3 years, 0.73 over 1 year and 0.73 over 5 years.
Is JFR a good diversifier for FRA?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 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/fra-vs-jfr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fra-vs-jfr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRA correlations · JFR correlations
