BTZ vs NPCT: Correlation
How closely do BlackRock Credit Allocation Income Trust (BTZ) and Nuveen Core Plus Impact Fund (NPCT) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTZ and NPCT?
Across a 3-year window, the weekly returns of BTZ and NPCT correlate at 0.75, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 99.9 %².
Among the 25 assets we track against BTZ, NPCT ranks #4 by 3-year correlation. Neither side won the trailing year by much: +1.6% against -0.3%.
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 NPCT: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | NPCT (Nuveen Core Plus Impact Fund) | |
|---|---|---|
| 1-year return | +1.6% | -0.3% |
| 5-year return | +5.4% | -14.4% |
| Volatility (ann.) | 11.5% | 11.7% |
| Beta vs S&P 500 | 0.44 | 0.38 |
| Max drawdown (3Y) | -9.3% | -10.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | 9.2 | 10.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTZ | NPCT |
|---|---|---|
| 2022 | -27.1% | -37.5% |
| 2023 | +12.8% | +7.8% |
| 2024 | +11.3% | +17.3% |
| 2025 | +13.7% | +9.9% |
| 2026 | +0.1% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and NPCT 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 BTZ and NPCT?
As of 2026-08-27, the correlation of weekly returns between BTZ and NPCT is 0.75 over 3 years, 0.72 over 1 year and 0.79 over 5 years.
Is NPCT a good diversifier for BTZ?
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?
On the −1 to +1 scale, 0.75 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/btz-vs-npct.json
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Related comparisons
Hubs: BTZ correlations · NPCT correlations
