BBN vs NBB: Correlation
Measured on weekly returns over the past three years, BlackRock Taxable Municipal Bond Trust (BBN) and Nuveen Taxable Municipal Income Fund (NBB) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and NBB?
Over the past 3 years, BBN and NBB moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.70) runs below the 3-year figure (0.81). Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 118.8 %².
Few assets follow BBN as closely as NBB, which ranks #1 of 18 tracked partners. Their 12-month results are close: +4.4% for BBN against +5.3% for NBB.
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 NBB: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | NBB (Nuveen Taxable Municipal Income Fund) | |
|---|---|---|
| 1-year return | +4.4% | +5.3% |
| 5-year return | -14.4% | -5.4% |
| Volatility (ann.) | 12.3% | 12.0% |
| Beta vs S&P 500 | 0.26 | 0.22 |
| Max drawdown (3Y) | -11.8% | -11.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | 16.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | NBB |
|---|---|---|
| 2022 | -31.0% | -24.6% |
| 2023 | +3.6% | +7.6% |
| 2024 | +6.0% | +1.4% |
| 2025 | +8.6% | +13.6% |
| 2026 | +2.3% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and NBB good diversifiers for each other?
No: a correlation of 0.81 means BBN and NBB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BBN and NBB?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.70 over the last year and 0.78 over 5 years.
Is NBB a good diversifier for BBN?
No: a correlation of 0.81 means BBN and NBB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 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/bbn-vs-nbb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbn-vs-nbb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBN correlations · NBB correlations
