NCZ vs NFJ: Correlation
Virtus Convertible & Income Fund II (NCZ) and Virtus Dividend, Interest & Premium Strategy Fund (NFJ) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCZ and NFJ?
Across a 3-year window, the weekly returns of NCZ and NFJ correlate at 0.77, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 200.2 %².
By 3-year correlation, NFJ places #4 of the 18 assets tracked against NCZ. Their 12-month results are close: +28.2% for NCZ against +31.0% for NFJ.
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.
NCZ vs NFJ: side by side
| NCZ (Virtus Convertible & Income Fund II) | NFJ (Virtus Dividend, Interest & Premium Strategy Fund) | |
|---|---|---|
| 1-year return | +28.2% | +31.0% |
| 5-year return | +29.5% | +50.8% |
| Volatility (ann.) | 18.8% | 13.8% |
| Beta vs S&P 500 | 0.94 | 0.73 |
| Max drawdown (3Y) | -19.5% | -17.0% |
| Market cap | $0.3B | $1.5B |
| P/E (trailing) | 4.3 | 9.8 |
| Dividend yield | 9.33% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCZ | NFJ |
|---|---|---|
| 2022 | -35.8% | -23.9% |
| 2023 | +17.8% | +21.3% |
| 2024 | +18.4% | +10.0% |
| 2025 | +23.2% | +12.4% |
| 2026 | +21.0% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCZ and NFJ good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NCZ and NFJ?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.75 over the last year and 0.79 over 5 years.
Is NFJ a good diversifier for NCZ?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ncz-vs-nfj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ncz-vs-nfj/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NCZ correlations · NFJ correlations
