BBN vs NVNI: Correlation
How closely do BlackRock Taxable Municipal Bond Trust (BBN) and Nvni Group Limited (NVNI) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and NVNI?
On 3 years of weekly data the BBN/NVNI correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.24). The 5-year figure is -0.15, and annualized covariance runs at -2824.8 %².
Among the 18 assets we track against BBN, NVNI sits near the bottom by co-movement, at rank #17. The last year tells two different stories: BBN led by 87.4 percentage points, +4.4% for BBN against -83.0% for NVNI. Note the risk asymmetry: NVNI runs 77.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NVNI: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | NVNI (Nvni Group Limited) | |
|---|---|---|
| 1-year return | +4.4% | -83.0% |
| 5-year return | -14.4% | -98.9% |
| Volatility (ann.) | 12.3% | 949.3% |
| Beta vs S&P 500 | 0.26 | -4.03 |
| Max drawdown (3Y) | -11.8% | -99.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | NVNI |
|---|---|---|
| 2022 | -31.0% | +4.4% |
| 2023 | +3.6% | -85.4% |
| 2024 | +6.0% | +64.4% |
| 2025 | +8.6% | -89.2% |
| 2026 | +2.3% | -60.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and NVNI good diversifiers for each other?
Yes. With a correlation of -0.24, BBN and NVNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BBN and NVNI?
As of 2026-08-27, the correlation of weekly returns between BBN and NVNI is -0.24 over 3 years, -0.09 over 1 year and -0.15 over 5 years.
Is NVNI a good diversifier for BBN?
Yes. With a correlation of -0.24, BBN and NVNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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-nvni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbn-vs-nvni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBN correlations · NVNI correlations
