JCE vs MCHX: Correlation
Measured on weekly returns over the past three years, Nuveen Core Equity Alpha Fund (JCE) and Marchex, Inc. (MCHX) 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 JCE and MCHX?
On 3 years of weekly data the JCE/MCHX correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.36). The 5-year figure is 0.24, and annualized covariance runs at 287.4 %².
MCHX is close to the least connected end of JCE's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months JCE outperformed by 25.3 percentage points (+18.1% for JCE against -7.2% for MCHX). Note the risk asymmetry: MCHX runs 3.2 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.
JCE vs MCHX: side by side
| JCE (Nuveen Core Equity Alpha Fund) | MCHX (Marchex, Inc.) | |
|---|---|---|
| 1-year return | +18.1% | -7.2% |
| 5-year return | +72.6% | -45.3% |
| Volatility (ann.) | 15.7% | 50.3% |
| Beta vs S&P 500 | 0.91 | 1.07 |
| Max drawdown (3Y) | -19.0% | -40.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JCE | MCHX |
|---|---|---|
| 2022 | -14.3% | -35.5% |
| 2023 | +10.7% | -15.0% |
| 2024 | +27.9% | +28.7% |
| 2025 | +9.1% | -5.1% |
| 2026 | +11.6% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCE and MCHX good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JCE and MCHX?
As of 2026-08-27, the correlation of weekly returns between JCE and MCHX is 0.36 over 3 years, 0.17 over 1 year and 0.24 over 5 years.
Is MCHX a good diversifier for JCE?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jce-vs-mchx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jce-vs-mchx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JCE correlations · MCHX correlations
