DTF vs NVNI: Correlation
How closely do DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and Nvni Group Limited (NVNI) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTF and NVNI?
On 3 years of weekly data the DTF/NVNI correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -1390.1 %².
NVNI is close to the least connected end of DTF's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months DTF outperformed by 88.6 percentage points (+5.6% for DTF against -83.0% for NVNI). Risk is not evenly split, since NVNI carries 189.9 times the volatility of the other side.
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.
DTF vs NVNI: side by side
| DTF (DTF Tax-Free Income 2028 Term Fund Inc.) | NVNI (Nvni Group Limited) | |
|---|---|---|
| 1-year return | +5.6% | -83.0% |
| 5-year return | -7.5% | -98.9% |
| Volatility (ann.) | 5.0% | 949.3% |
| Beta vs S&P 500 | 0.10 | -4.03 |
| Max drawdown (3Y) | -5.4% | -99.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 3.37% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTF | NVNI |
|---|---|---|
| 2022 | -21.1% | +4.4% |
| 2023 | +2.2% | -85.4% |
| 2024 | +8.2% | +64.4% |
| 2025 | +5.4% | -89.2% |
| 2026 | +3.1% | -60.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTF and NVNI good diversifiers for each other?
Yes. With a correlation of -0.29, DTF and NVNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DTF and NVNI?
As of 2026-08-27, the correlation of weekly returns between DTF and NVNI is -0.29 over 3 years, -0.23 over 1 year and -0.14 over 5 years.
Is NVNI a good diversifier for DTF?
Yes. With a correlation of -0.29, DTF and NVNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dtf-vs-nvni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dtf-vs-nvni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DTF correlations · NVNI correlations
