MCHX vs NIE: Correlation
How closely do Marchex, Inc. (MCHX) and Virtus Equity & Convertible Income Fund (NIE) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHX and NIE?
On 3 years of weekly data the MCHX/NIE correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.26 over 1 year against 0.36 over 3. The 5-year figure is 0.29, and annualized covariance runs at 268.0 %².
Within MCHX's tracked universe of 10 assets, NIE comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NIE outperformed by 24.0 percentage points (-7.2% for MCHX against +16.8% for NIE). Note the risk asymmetry: MCHX runs 3.4 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.
MCHX vs NIE: side by side
| MCHX (Marchex, Inc.) | NIE (Virtus Equity & Convertible Income Fund) | |
|---|---|---|
| 1-year return | -7.2% | +16.8% |
| 5-year return | -45.3% | +55.1% |
| Volatility (ann.) | 50.3% | 14.9% |
| Beta vs S&P 500 | 1.07 | 0.92 |
| Max drawdown (3Y) | -40.5% | -20.8% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCHX | NIE |
|---|---|---|
| 2022 | -35.5% | -26.7% |
| 2023 | -15.0% | +26.7% |
| 2024 | +28.7% | +28.6% |
| 2025 | -5.1% | +12.2% |
| 2026 | +9.0% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCHX and NIE 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 MCHX and NIE?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.26 over the last year and 0.29 over 5 years.
Is NIE a good diversifier for MCHX?
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?
A reading of 0.36 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/mchx-vs-nie.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mchx-vs-nie/)
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Related comparisons
Hubs: MCHX correlations · NIE correlations
