BTX vs NBXG: Correlation
Measured on weekly returns over the past three years, BlackRock Technology and Private Equity Term Trust (BTX) and Neuberger Next Generation Connectivity Fund Inc. (NBXG) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and NBXG?
On 3 years of weekly data the BTX/NBXG correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.80 over 3. The 5-year figure is 0.84, and annualized covariance runs at 434.4 %².
In BTX's tracked universe of 20 assets, NBXG sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months BTX outperformed by 25.7 percentage points (+39.5% for BTX against +13.8% for NBXG).
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.
BTX vs NBXG: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | NBXG (Neuberger Next Generation Connectivity Fund Inc.) | |
|---|---|---|
| 1-year return | +39.5% | +13.8% |
| 5-year return | -21.7% | +25.6% |
| Volatility (ann.) | 24.4% | 22.4% |
| Beta vs S&P 500 | 1.23 | 1.28 |
| Max drawdown (3Y) | -31.7% | -22.1% |
| Market cap | $1.1B | $1.2B |
| P/E (trailing) | 23.8 | 3.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTX | NBXG |
|---|---|---|
| 2022 | -47.8% | -41.4% |
| 2023 | +19.3% | +34.9% |
| 2024 | +13.4% | +28.5% |
| 2025 | +0.9% | +24.2% |
| 2026 | +45.3% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and NBXG good diversifiers for each other?
No. With a correlation of 0.80, BTX and NBXG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BTX and NBXG?
The BTX/NBXG correlation stands at 0.80 on a 3-year window (1 year: 0.80, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is NBXG a good diversifier for BTX?
No. With a correlation of 0.80, BTX and NBXG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 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/btx-vs-nbxg.json
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[](https://www.pairbook.io/pair/btx-vs-nbxg/)
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Related comparisons
Hubs: BTX correlations · NBXG correlations
