BTT vs NUV: Correlation
BlackRock Municipal 2030 Target Term Trust (BTT) and Nuveen Municipal Value Fund, Inc. (NUV) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTT and NUV?
On 3 years of weekly data the BTT/NUV correlation comes out at 0.75, strong. Lately the two have drifted apart, with the 1-year correlation at 0.57 versus 0.75 over 3 years. The 5-year figure is 0.68, and annualized covariance runs at 41.5 %².
Few assets follow BTT as closely as NUV, which ranks #3 of 13 tracked partners. Their 12-month results are close: +3.9% for BTT against +8.1% for NUV.
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 NUV: side by side
| BTT (BlackRock Municipal 2030 Target Term Trust) | NUV (Nuveen Municipal Value Fund, Inc.) | |
|---|---|---|
| 1-year return | +3.9% | +8.1% |
| 5-year return | -1.1% | -6.9% |
| Volatility (ann.) | 6.6% | 8.4% |
| Beta vs S&P 500 | 0.17 | 0.18 |
| Max drawdown (3Y) | -6.5% | -6.4% |
| Market cap | $1.4B | $1.9B |
| P/E (trailing) | 16.4 | 17.6 |
| Dividend yield | 2.46% | 4.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTT | NUV |
|---|---|---|
| 2022 | -15.2% | -14.0% |
| 2023 | +0.7% | +4.0% |
| 2024 | +1.6% | +4.0% |
| 2025 | +13.7% | +10.3% |
| 2026 | +0.6% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTT and NUV good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTT and NUV?
The BTT/NUV correlation stands at 0.75 on a 3-year window (1 year: 0.57, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is NUV a good diversifier for BTT?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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/btt-vs-nuv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btt-vs-nuv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTT correlations · NUV correlations
