NIE vs VOO: Correlation
Measured on weekly returns over the past three years, Virtus Equity & Convertible Income Fund (NIE) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.90, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIE and VOO?
Over the past 3 years, NIE and VOO moved with a correlation of 0.90, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.90 over 3. Over 5 years the correlation is 0.91, and the annualized covariance of weekly returns is 191.8 %².
In NIE's tracked universe of 21 assets, VOO sits right near the top at #3. Neither side won the trailing year by much: +16.8% against +20.6%.
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 VOO: side by side
| NIE (Virtus Equity & Convertible Income Fund) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +16.8% | +20.6% |
| 5-year return | +55.1% | +83.0% |
| Volatility (ann.) | 14.9% | 14.4% |
| Beta vs S&P 500 | 0.92 | 0.99 |
| Max drawdown (3Y) | -20.8% | -18.7% |
| Market cap | $0.7B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | US Listed | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | NIE | VOO |
|---|---|---|
| 2022 | -26.7% | -18.2% |
| 2023 | +26.7% | +26.3% |
| 2024 | +28.6% | +25.0% |
| 2025 | +12.2% | +17.8% |
| 2026 | +9.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIE and VOO good diversifiers for each other?
No. With a correlation of 0.90, NIE and VOO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NIE and VOO?
The NIE/VOO correlation stands at 0.90 on a 3-year window (1 year: 0.84, 5 years: 0.91), computed from weekly returns as of 2026-08-27.
Is VOO a good diversifier for NIE?
No. With a correlation of 0.90, NIE and VOO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.90 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.
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Related comparisons
Hubs: NIE correlations · VOO correlations
