GNRC vs NCZ: Correlation
Generac (GNRC) and Virtus Convertible & Income Fund II (NCZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNRC and NCZ?
Over the past 3 years, GNRC and NCZ moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 460.9 %².
Among the 35 assets we track against GNRC, NCZ ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NCZ outperformed by 22.7 percentage points (+5.5% for GNRC against +28.2% for NCZ). Note the risk asymmetry: GNRC runs 2.5 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.
GNRC vs NCZ: side by side
| GNRC (Generac) | NCZ (Virtus Convertible & Income Fund II) | |
|---|---|---|
| 1-year return | +5.5% | +28.2% |
| 5-year return | -55.4% | +29.5% |
| Volatility (ann.) | 46.1% | 18.8% |
| Beta vs S&P 500 | 1.35 | 0.94 |
| Max drawdown (3Y) | -47.8% | -19.5% |
| Market cap | $11.6B | $0.3B |
| P/E (trailing) | 47.4 | 4.3 |
| Dividend yield | 0.00% | 9.33% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GNRC | NCZ |
|---|---|---|
| 2022 | -71.4% | -35.8% |
| 2023 | +28.4% | +17.8% |
| 2024 | +20.0% | +18.4% |
| 2025 | -12.0% | +23.2% |
| 2026 | +44.7% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNRC and NCZ good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GNRC and NCZ?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.45 over the last year and 0.52 over 5 years.
Is NCZ a good diversifier for GNRC?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 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/gnrc-vs-ncz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gnrc-vs-ncz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GNRC correlations · NCZ correlations
