JMM vs VGI: Correlation
How closely do Nuveen Multi-Market Income Fund (MA) (JMM) and Virtus Global Multi-Sector Income Fund (VGI) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JMM and VGI?
On 3 years of weekly data the JMM/VGI correlation comes out at 0.60, strong. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 60.3 %².
VGI is one of the assets that tracks JMM most closely: it ranks #1 out of the 10 assets we track against JMM. The trailing year gives VGI the advantage: -2.9% versus +3.8%, a 6.7-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.
JMM vs VGI: side by side
| JMM (Nuveen Multi-Market Income Fund (MA)) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | -2.9% | +3.8% |
| 5-year return | +3.3% | +11.9% |
| Volatility (ann.) | 9.8% | 10.3% |
| Beta vs S&P 500 | 0.20 | 0.38 |
| Max drawdown (3Y) | -9.9% | -11.3% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 11.6 | 7.8 |
| Dividend yield | 5.99% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JMM | VGI |
|---|---|---|
| 2022 | -18.0% | -22.3% |
| 2023 | +6.7% | +13.4% |
| 2024 | +8.2% | +10.4% |
| 2025 | +5.6% | +16.1% |
| 2026 | -0.1% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JMM and VGI good diversifiers for each other?
Only partially. A correlation of 0.60 means JMM and VGI 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 JMM and VGI?
As of 2026-08-27, the correlation of weekly returns between JMM and VGI is 0.60 over 3 years, 0.56 over 1 year and 0.55 over 5 years.
Is VGI a good diversifier for JMM?
Only partially. A correlation of 0.60 means JMM and VGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jmm-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JMM correlations · VGI correlations
