JMM vs MOBX: Correlation
Measured on weekly returns over the past three years, Nuveen Multi-Market Income Fund (MA) (JMM) and Mobix Labs, Inc. (MOBX) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JMM and MOBX?
On 3 years of weekly data the JMM/MOBX correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.26 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -838.0 %².
Among the 10 assets we track against JMM, MOBX sits near the bottom by co-movement, at rank #8. The last year tells two different stories: JMM led by 85.1 percentage points, -2.9% for JMM against -88.0% for MOBX. One caveat on sizing: MOBX is 34.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
JMM vs MOBX: side by side
| JMM (Nuveen Multi-Market Income Fund (MA)) | MOBX (Mobix Labs, Inc.) | |
|---|---|---|
| 1-year return | -2.9% | -88.0% |
| 5-year return | +3.3% | -98.8% |
| Volatility (ann.) | 9.8% | 333.1% |
| Beta vs S&P 500 | 0.20 | -0.62 |
| Max drawdown (3Y) | -9.9% | -99.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 5.99% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JMM | MOBX |
|---|---|---|
| 2022 | -18.0% | +3.8% |
| 2023 | +6.7% | -60.6% |
| 2024 | +8.2% | -57.7% |
| 2025 | +5.6% | -84.3% |
| 2026 | -0.1% | -57.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JMM and MOBX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between JMM and MOBX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.45 over the last year and -0.18 over 5 years.
Is MOBX a good diversifier for JMM?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/jmm-vs-mobx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jmm-vs-mobx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JMM correlations · MOBX correlations
