GCV vs NCV: Correlation
Gabelli Convertible and Income Securities Fund, Inc. (The) (GCV) and Virtus Convertible & Income Fund (NCV) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCV and NCV?
On 3 years of weekly data the GCV/NCV correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 184.0 %².
In GCV's tracked universe of 13 assets, NCV sits right near the top at #2. Twelve-month performance is nearly a tie, at +26.7% for GCV and +26.0% for NCV.
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.
GCV vs NCV: side by side
| GCV (Gabelli Convertible and Income Securities Fund, Inc. (The)) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +26.7% | +26.0% |
| 5-year return | +23.7% | +22.6% |
| Volatility (ann.) | 15.8% | 18.3% |
| Beta vs S&P 500 | 0.57 | 0.88 |
| Max drawdown (3Y) | -18.3% | -17.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 4.5 | 4.5 |
| Dividend yield | 10.48% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCV | NCV |
|---|---|---|
| 2022 | -23.9% | -33.9% |
| 2023 | -15.6% | +12.7% |
| 2024 | +19.9% | +16.2% |
| 2025 | +22.9% | +22.6% |
| 2026 | +16.7% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCV and NCV good diversifiers for each other?
Only partially. A correlation of 0.64 means GCV and NCV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GCV and NCV?
The GCV/NCV correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is NCV a good diversifier for GCV?
Only partially. A correlation of 0.64 means GCV and NCV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/gcv-vs-ncv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gcv-vs-ncv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GCV correlations · NCV correlations
