BBN vs GBAB: Correlation
BlackRock Taxable Municipal Bond Trust (BBN) and Guggenheim Taxable Municipal Bond & Investment Grade Debt (GBAB) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and GBAB?
Across a 3-year window, the weekly returns of BBN and GBAB correlate at 0.72, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 118.5 %².
Within BBN's tracked universe of 18 assets, GBAB comes in at #8 by 3-year correlation. The trailing year gives BBN the advantage: +4.4% versus -1.0%, a 5.4-point spread.
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.
BBN vs GBAB: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | GBAB (Guggenheim Taxable Municipal Bond & Investment Grade Debt) | |
|---|---|---|
| 1-year return | +4.4% | -1.0% |
| 5-year return | -14.4% | -11.9% |
| Volatility (ann.) | 12.3% | 13.5% |
| Beta vs S&P 500 | 0.26 | 0.20 |
| Max drawdown (3Y) | -11.8% | -17.3% |
| Market cap | $1.0B | $0.4B |
| P/E (trailing) | 12.5 | 11.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | GBAB |
|---|---|---|
| 2022 | -31.0% | -25.1% |
| 2023 | +3.6% | +8.6% |
| 2024 | +6.0% | +2.9% |
| 2025 | +8.6% | +8.4% |
| 2026 | +2.3% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and GBAB good diversifiers for each other?
Only partially. A correlation of 0.72 means BBN and GBAB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BBN and GBAB?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.65 over the last year and 0.72 over 5 years.
Is GBAB a good diversifier for BBN?
Only partially. A correlation of 0.72 means BBN and GBAB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
A reading of 0.72 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbn-vs-gbab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbn-vs-gbab/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBN correlations · GBAB correlations
