BBN vs WIA: Correlation
Measured on weekly returns over the past three years, BlackRock Taxable Municipal Bond Trust (BBN) and Western Asset Inflation-Linked Income Fund (WIA) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and WIA?
Over the past 3 years, BBN and WIA moved with a correlation of 0.67, which is strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 59.7 %².
By 3-year correlation, WIA places #11 of the 18 assets tracked against BBN. Twelve-month performance is nearly a tie, at +4.4% for BBN and +2.1% for WIA. One caveat on sizing: BBN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WIA: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | WIA (Western Asset Inflation-Linked Income Fund) | |
|---|---|---|
| 1-year return | +4.4% | +2.1% |
| 5-year return | -14.4% | -3.9% |
| Volatility (ann.) | 12.3% | 7.2% |
| Beta vs S&P 500 | 0.26 | 0.20 |
| Max drawdown (3Y) | -11.8% | -6.4% |
| Market cap | $1.0B | $0.2B |
| P/E (trailing) | 12.5 | 14.0 |
| Dividend yield | 0.00% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | WIA |
|---|---|---|
| 2022 | -31.0% | -25.8% |
| 2023 | +3.6% | +5.0% |
| 2024 | +6.0% | +6.1% |
| 2025 | +8.6% | +11.4% |
| 2026 | +2.3% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and WIA good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BBN and WIA?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.58 over the last year and 0.53 over 5 years.
Is WIA a good diversifier for BBN?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 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 · WIA correlations
