LYV vs NIE: Correlation
Measured on weekly returns over the past three years, Live Nation Entertainment (LYV) and Virtus Equity & Convertible Income Fund (NIE) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and NIE?
Over the past 3 years, LYV and NIE moved with a correlation of 0.52, which is moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 216.7 %².
Among the 35 assets we track against LYV, NIE ranks #10 by 3-year correlation. Over the last 12 months NIE came out ahead by 7.7 percentage points (+9.1% against +16.8%). Risk is not evenly split, since LYV carries 1.9 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.
LYV vs NIE: side by side
| LYV (Live Nation Entertainment) | NIE (Virtus Equity & Convertible Income Fund) | |
|---|---|---|
| 1-year return | +9.1% | +16.8% |
| 5-year return | +108.7% | +55.1% |
| Volatility (ann.) | 28.1% | 14.9% |
| Beta vs S&P 500 | 1.02 | 0.92 |
| Max drawdown (3Y) | -27.8% | -20.8% |
| Market cap | $42.1B | $0.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | LYV | NIE |
|---|---|---|
| 2022 | -41.7% | -26.7% |
| 2023 | +34.2% | +26.7% |
| 2024 | +38.4% | +28.6% |
| 2025 | +10.0% | +12.2% |
| 2026 | +26.8% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYV and NIE good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LYV and NIE?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.43 over the last year and 0.56 over 5 years.
Is NIE a good diversifier for LYV?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/lyv-vs-nie.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lyv-vs-nie/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LYV correlations · NIE correlations
