BBN vs MGF: Correlation
Measured on weekly returns over the past three years, BlackRock Taxable Municipal Bond Trust (BBN) and Aberdeen Government Markets Income Fund (MGF) 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 BBN and MGF?
Over the past 3 years, BBN and MGF moved with a correlation of 0.59, which is moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.59). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 63.9 %².
Among the 18 assets we track against BBN, MGF ranks #13 by 3-year correlation. Twelve-month performance is nearly a tie, at +4.4% for BBN and +1.7% for MGF.
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 MGF: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | MGF (Aberdeen Government Markets Income Fund) | |
|---|---|---|
| 1-year return | +4.4% | +1.7% |
| 5-year return | -14.4% | -3.4% |
| Volatility (ann.) | 12.3% | 8.8% |
| Beta vs S&P 500 | 0.26 | 0.17 |
| Max drawdown (3Y) | -11.8% | -8.7% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | 26.3 |
| Dividend yield | 0.00% | 8.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | MGF |
|---|---|---|
| 2022 | -31.0% | -15.8% |
| 2023 | +3.6% | +3.8% |
| 2024 | +6.0% | +4.2% |
| 2025 | +8.6% | +6.3% |
| 2026 | +2.3% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and MGF good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BBN and MGF?
As of 2026-08-27, the correlation of weekly returns between BBN and MGF is 0.59 over 3 years, 0.27 over 1 year and 0.55 over 5 years.
Is MGF a good diversifier for BBN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BBN correlations · MGF correlations
