HLIT vs NCV: Correlation
Harmonic Inc. (HLIT) and Virtus Convertible & Income Fund (NCV) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIT and NCV?
Over the past 3 years, HLIT and NCV moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 406.5 %².
Within HLIT's tracked universe of 11 assets, NCV comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +29.4% against +26.0%. Risk is not evenly split, since HLIT carries 2.6 times the volatility of the other side.
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.
HLIT vs NCV: side by side
| HLIT (Harmonic Inc.) | NCV (Virtus Convertible & Income Fund) | |
|---|---|---|
| 1-year return | +29.4% | +26.0% |
| 5-year return | +34.2% | +22.6% |
| Volatility (ann.) | 46.9% | 18.3% |
| Beta vs S&P 500 | 1.41 | 0.88 |
| Max drawdown (3Y) | -44.3% | -17.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 51.2 | 4.5 |
| Dividend yield | 0.00% | 9.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIT | NCV |
|---|---|---|
| 2022 | +11.4% | -33.9% |
| 2023 | -0.5% | +12.7% |
| 2024 | +1.5% | +16.2% |
| 2025 | -25.2% | +22.6% |
| 2026 | +24.2% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and NCV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLIT and NCV?
The HLIT/NCV correlation stands at 0.47 on a 3-year window (1 year: 0.48, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is NCV a good diversifier for HLIT?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/hlit-vs-ncv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlit-vs-ncv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLIT correlations · NCV correlations
