JGH vs JLS: Correlation
How closely do Nuveen Global High Income Fund (JGH) and Nuveen Mortgage and Income Fund (JLS) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JGH and JLS?
Over the past 3 years, JGH and JLS moved with a correlation of 0.57, which is moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.57). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 72.6 %².
Within JGH's tracked universe of 14 assets, JLS comes in at #9 by 3-year correlation. Their 12-month results are close: +1.3% for JGH against -0.4% for JLS.
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.
JGH vs JLS: side by side
| JGH (Nuveen Global High Income Fund) | JLS (Nuveen Mortgage and Income Fund) | |
|---|---|---|
| 1-year return | +1.3% | -0.4% |
| 5-year return | +26.7% | +25.5% |
| Volatility (ann.) | 12.7% | 10.1% |
| Beta vs S&P 500 | 0.51 | 0.31 |
| Max drawdown (3Y) | -13.7% | -9.3% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 10.5 | 9.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JGH | JLS |
|---|---|---|
| 2022 | -21.0% | -17.9% |
| 2023 | +20.9% | +14.9% |
| 2024 | +16.0% | +17.9% |
| 2025 | +8.2% | +11.6% |
| 2026 | +5.0% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JGH and JLS good diversifiers for each other?
Only partially. A correlation of 0.57 means JGH and JLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JGH and JLS?
As of 2026-08-27, the correlation of weekly returns between JGH and JLS is 0.57 over 3 years, 0.46 over 1 year and 0.54 over 5 years.
Is JLS a good diversifier for JGH?
Only partially. A correlation of 0.57 means JGH and JLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/jgh-vs-jls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jgh-vs-jls/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JGH correlations · JLS correlations
