GCV vs NCZ: Correlation
Gabelli Convertible and Income Securities Fund, Inc. (The) (GCV) and Virtus Convertible & Income Fund II (NCZ) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCV and NCZ?
Over the past 3 years, GCV and NCZ moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 184.6 %².
Among the 13 assets we track against GCV, NCZ ranks #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +26.7% for GCV and +28.2% for NCZ.
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 NCZ: side by side
| GCV (Gabelli Convertible and Income Securities Fund, Inc. (The)) | NCZ (Virtus Convertible & Income Fund II) | |
|---|---|---|
| 1-year return | +26.7% | +28.2% |
| 5-year return | +23.7% | +29.5% |
| Volatility (ann.) | 15.8% | 18.8% |
| Beta vs S&P 500 | 0.57 | 0.94 |
| Max drawdown (3Y) | -18.3% | -19.5% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 4.5 | 4.3 |
| Dividend yield | 10.48% | 9.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCV | NCZ |
|---|---|---|
| 2022 | -23.9% | -35.8% |
| 2023 | -15.6% | +17.8% |
| 2024 | +19.9% | +18.4% |
| 2025 | +22.9% | +23.2% |
| 2026 | +16.7% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCV and NCZ good diversifiers for each other?
Only partially. A correlation of 0.62 means GCV and NCZ 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 NCZ?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.63 over the last year and 0.52 over 5 years.
Is NCZ a good diversifier for GCV?
Only partially. A correlation of 0.62 means GCV and NCZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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/gcv-vs-ncz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gcv-vs-ncz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GCV correlations · NCZ correlations
