BHV vs NAN: Correlation
Measured on weekly returns over the past three years, BlackRock Virginia Municipal Bond Trust (BHV) and Nuveen New York Quality Municipal Income Fund (NAN) 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 BHV and NAN?
Over the past 3 years, BHV and NAN moved with a correlation of 0.59, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.59 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 76.0 %².
By 3-year correlation, NAN places #4 of the 10 assets tracked against BHV. Their recent paths diverged sharply: over the last 12 months BHV outperformed by 23.3 percentage points (+31.5% for BHV against +8.2% for NAN).
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.
BHV vs NAN: side by side
| BHV (BlackRock Virginia Municipal Bond Trust) | NAN (Nuveen New York Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | +31.5% | +8.2% |
| 5-year return | -16.7% | -2.8% |
| Volatility (ann.) | 12.5% | 10.3% |
| Beta vs S&P 500 | 0.20 | 0.26 |
| Max drawdown (3Y) | -11.5% | -11.2% |
| Market cap | – | – |
| P/E (trailing) | – | 30.5 |
| Dividend yield | 4.82% | 7.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHV | NAN |
|---|---|---|
| 2022 | -36.1% | -24.0% |
| 2023 | -1.0% | +8.2% |
| 2024 | +6.0% | +10.2% |
| 2025 | +0.8% | +6.6% |
| 2026 | +24.4% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHV and NAN 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 BHV and NAN?
The BHV/NAN correlation stands at 0.59 on a 3-year window (1 year: 0.41, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is NAN a good diversifier for BHV?
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?
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/bhv-vs-nan.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhv-vs-nan/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHV correlations · NAN correlations
