HERZ vs UONEK: Correlation
Measured on weekly returns over the past three years, Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) and Urban One, Inc. (UONEK) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HERZ and UONEK?
On 3 years of weekly data the HERZ/UONEK correlation comes out at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.62 versus 0.36 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 1061.8 %².
Among the 19 assets we track against HERZ, UONEK ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HERZ outperformed by 68.8 percentage points (+22.0% for HERZ against -46.8% for UONEK). Note the risk asymmetry: UONEK runs 2.3 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.
HERZ vs UONEK: side by side
| HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | UONEK (Urban One, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | -46.8% |
| 5-year return | +1.5% | -93.7% |
| Volatility (ann.) | 35.4% | 82.3% |
| Beta vs S&P 500 | 0.10 | 0.73 |
| Max drawdown (3Y) | -41.6% | -93.1% |
| Market cap | – | – |
| P/E (trailing) | 80.0 | – |
| Dividend yield | 57.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HERZ | UONEK |
|---|---|---|
| 2022 | -20.4% | +10.9% |
| 2023 | -13.6% | -6.1% |
| 2024 | +2.9% | -71.7% |
| 2025 | +89.3% | -14.0% |
| 2026 | -24.3% | -49.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HERZ and UONEK good diversifiers for each other?
Reasonably. At 0.36, HERZ and UONEK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HERZ and UONEK?
As of 2026-08-27, the correlation of weekly returns between HERZ and UONEK is 0.36 over 3 years, 0.62 over 1 year and 0.30 over 5 years.
Is UONEK a good diversifier for HERZ?
Reasonably. At 0.36, HERZ and UONEK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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.
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Related comparisons
Hubs: HERZ correlations · UONEK correlations
