AAME vs NIM: Correlation
How closely do Atlantic American Corporation (AAME) and Nuveen Select Maturities Municipal Fund (NIM) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAME and NIM?
On 3 years of weekly data the AAME/NIM correlation comes out at 0.31, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.31 over 3. The 5-year figure is 0.20, and annualized covariance runs at 152.9 %².
NIM is one of the assets that tracks AAME most closely: it ranks #3 out of the 11 assets we track against AAME. The last year tells two different stories: NIM led by 59.7 percentage points, -54.2% for AAME against +5.5% for NIM. Risk is not evenly split, since AAME carries 7.1 times the volatility of the other side.
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.
AAME vs NIM: side by side
| AAME (Atlantic American Corporation) | NIM (Nuveen Select Maturities Municipal Fund) | |
|---|---|---|
| 1-year return | -54.2% | +5.5% |
| 5-year return | -57.7% | +1.3% |
| Volatility (ann.) | 59.6% | 8.4% |
| Beta vs S&P 500 | 0.77 | 0.16 |
| Max drawdown (3Y) | -63.5% | -6.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 5.6 | 24.4 |
| Dividend yield | 1.54% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAME | NIM |
|---|---|---|
| 2022 | -4.0% | -12.9% |
| 2023 | +5.9% | +0.8% |
| 2024 | -36.6% | +2.8% |
| 2025 | +86.6% | +10.9% |
| 2026 | -44.5% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAME and NIM good diversifiers for each other?
Reasonably. At 0.31, AAME and NIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AAME and NIM?
The AAME/NIM correlation stands at 0.31 on a 3-year window (1 year: 0.32, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is NIM a good diversifier for AAME?
Reasonably. At 0.31, AAME and NIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 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/aame-vs-nim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aame-vs-nim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AAME correlations · NIM correlations
