BTZ vs JMM: Correlation
BlackRock Credit Allocation Income Trust (BTZ) and Nuveen Multi-Market Income Fund (MA) (JMM) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTZ and JMM?
Across a 3-year window, the weekly returns of BTZ and JMM correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 64.7 %².
Within BTZ's tracked universe of 25 assets, JMM comes in at #18 by 3-year correlation. Their 12-month results are close: +1.6% for BTZ against -2.9% for JMM.
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.
BTZ vs JMM: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | JMM (Nuveen Multi-Market Income Fund (MA)) | |
|---|---|---|
| 1-year return | +1.6% | -2.9% |
| 5-year return | +5.4% | +3.3% |
| Volatility (ann.) | 11.5% | 9.8% |
| Beta vs S&P 500 | 0.44 | 0.20 |
| Max drawdown (3Y) | -9.3% | -9.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | 9.2 | 11.6 |
| Dividend yield | 0.00% | 5.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTZ | JMM |
|---|---|---|
| 2022 | -27.1% | -18.0% |
| 2023 | +12.8% | +6.7% |
| 2024 | +11.3% | +8.2% |
| 2025 | +13.7% | +5.6% |
| 2026 | +0.1% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and JMM good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTZ and JMM?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.59 over the last year and 0.56 over 5 years.
Is JMM a good diversifier for BTZ?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/btz-vs-jmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btz-vs-jmm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTZ correlations · JMM correlations
