BTT vs NIM: Correlation
Measured on weekly returns over the past three years, BlackRock Municipal 2030 Target Term Trust (BTT) and Nuveen Select Maturities Municipal Fund (NIM) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTT and NIM?
Over the past 3 years, BTT and NIM moved with a correlation of 0.61, which is strong. The past 12 months show a weaker link (0.41) than the 3-year average (0.61). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 33.8 %².
Among the 13 assets we track against BTT, NIM ranks #7 by 3-year correlation. Twelve-month performance is nearly a tie, at +3.9% for BTT and +5.5% for NIM.
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.
BTT vs NIM: side by side
| BTT (BlackRock Municipal 2030 Target Term Trust) | NIM (Nuveen Select Maturities Municipal Fund) | |
|---|---|---|
| 1-year return | +3.9% | +5.5% |
| 5-year return | -1.1% | +1.3% |
| Volatility (ann.) | 6.6% | 8.4% |
| Beta vs S&P 500 | 0.17 | 0.16 |
| Max drawdown (3Y) | -6.5% | -6.8% |
| Market cap | $1.4B | $0.1B |
| P/E (trailing) | 16.4 | 24.4 |
| Dividend yield | 2.46% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTT | NIM |
|---|---|---|
| 2022 | -15.2% | -12.9% |
| 2023 | +0.7% | +0.8% |
| 2024 | +1.6% | +2.8% |
| 2025 | +13.7% | +10.9% |
| 2026 | +0.6% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTT and NIM good diversifiers for each other?
Only partially. A correlation of 0.61 means BTT and NIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BTT and NIM?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.41 over the last year and 0.53 over 5 years.
Is NIM a good diversifier for BTT?
Only partially. A correlation of 0.61 means BTT and NIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btt-vs-nim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btt-vs-nim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTT correlations · NIM correlations
