NCZ vs STX: Correlation
Measured on weekly returns over the past three years, Virtus Convertible & Income Fund II (NCZ) and Seagate Technology (STX) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCZ and STX?
On 3 years of weekly data the NCZ/STX correlation comes out at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 565.8 %².
Within NCZ's tracked universe of 18 assets, STX comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STX outperformed by 382.6 percentage points (+28.2% for NCZ against +410.8% for STX). One caveat on sizing: STX is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 STX: side by side
| NCZ (Virtus Convertible & Income Fund II) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +28.2% | +410.8% |
| 5-year return | +29.5% | +1032.5% |
| Volatility (ann.) | 18.8% | 51.3% |
| Beta vs S&P 500 | 0.94 | 1.97 |
| Max drawdown (3Y) | -19.5% | -40.0% |
| Market cap | $0.3B | $192.0B |
| P/E (trailing) | 4.3 | 61.0 |
| Dividend yield | 9.33% | 0.35% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NCZ | STX |
|---|---|---|
| 2022 | -35.8% | -51.4% |
| 2023 | +17.8% | +69.1% |
| 2024 | +18.4% | +4.1% |
| 2025 | +23.2% | +225.3% |
| 2026 | +21.0% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCZ and STX good diversifiers for each other?
To a limited degree. At 0.59 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 STX?
The NCZ/STX correlation stands at 0.59 on a 3-year window (1 year: 0.63, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is STX a good diversifier for NCZ?
To a limited degree. At 0.59 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 0.59 mean?
On the −1 to +1 scale, 0.59 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/ncz-vs-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ncz-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCZ correlations · STX correlations
