NIE vs UBER: Correlation
How closely do Virtus Equity & Convertible Income Fund (NIE) and Uber (UBER) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIE and UBER?
Across a 3-year window, the weekly returns of NIE and UBER correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 279.8 %².
Within NIE's tracked universe of 21 assets, UBER comes in at #13 by 3-year correlation. The last year tells two different stories: NIE led by 36.1 percentage points, +16.8% for NIE against -19.3% for UBER. Note the risk asymmetry: UBER runs 2.5 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.
NIE vs UBER: side by side
| NIE (Virtus Equity & Convertible Income Fund) | UBER (Uber) | |
|---|---|---|
| 1-year return | +16.8% | -19.3% |
| 5-year return | +55.1% | +94.4% |
| Volatility (ann.) | 14.9% | 36.7% |
| Beta vs S&P 500 | 0.92 | 1.34 |
| Max drawdown (3Y) | -20.8% | -34.1% |
| Market cap | $0.7B | $157.2B |
| P/E (trailing) | 6.3 | 17.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NIE | UBER |
|---|---|---|
| 2022 | -26.7% | -41.0% |
| 2023 | +26.7% | +149.0% |
| 2024 | +28.6% | -2.0% |
| 2025 | +12.2% | +35.5% |
| 2026 | +9.1% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIE and UBER good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NIE and UBER?
The NIE/UBER correlation stands at 0.51 on a 3-year window (1 year: 0.48, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is UBER a good diversifier for NIE?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/nie-vs-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nie-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NIE correlations · UBER correlations
