IQI vs NIM: Correlation
Invesco Quality Municipal Income Trust (IQI) and Nuveen Select Maturities Municipal Fund (NIM) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQI and NIM?
Over the past 3 years, IQI and NIM moved with a correlation of 0.59, which is moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 58.3 %².
By 3-year correlation, NIM places #20 of the 27 assets tracked against IQI. The trailing year gives IQI the advantage: +16.7% versus +5.5%, a 11.2-point spread.
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.
IQI vs NIM: side by side
| IQI (Invesco Quality Municipal Income Trust) | NIM (Nuveen Select Maturities Municipal Fund) | |
|---|---|---|
| 1-year return | +16.7% | +5.5% |
| 5-year return | +1.1% | +1.3% |
| Volatility (ann.) | 11.8% | 8.4% |
| Beta vs S&P 500 | 0.31 | 0.16 |
| Max drawdown (3Y) | -11.2% | -6.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 29.9 | 24.4 |
| Dividend yield | 7.50% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IQI | NIM |
|---|---|---|
| 2022 | -26.9% | -12.9% |
| 2023 | +5.9% | +0.8% |
| 2024 | +10.5% | +2.8% |
| 2025 | +9.2% | +10.9% |
| 2026 | +7.1% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQI and NIM good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IQI and NIM?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.59 over the last year and 0.48 over 5 years.
Is NIM a good diversifier for IQI?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 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/iqi-vs-nim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iqi-vs-nim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IQI correlations · NIM correlations
