LGCL vs NMT: Correlation
Lucas GC Limited - Class A (LGCL) and Nuveen Massachusetts Quality Municipal Income Fund (NMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LGCL and NMT?
On 3 years of weekly data the LGCL/NMT correlation comes out at 0.30, moderate. The past 12 months show a tighter link (0.42) than the 3-year average (0.30). The 5-year figure is n/a, and annualized covariance runs at 405.3 %².
Among the 15 assets we track against LGCL, NMT ranks #5 by 3-year correlation. The last year tells two different stories: NMT led by 119.5 percentage points, -99.7% for LGCL against +19.8% for NMT. Risk is not evenly split, since LGCL carries 16.2 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.
LGCL vs NMT: side by side
| LGCL (Lucas GC Limited - Class A) | NMT (Nuveen Massachusetts Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | -99.7% | +19.8% |
| 5-year return | n/a | +6.8% |
| Volatility (ann.) | 159.1% | 9.8% |
| Beta vs S&P 500 | 1.88 | 0.20 |
| Max drawdown (3Y) | -100.0% | -9.6% |
| Market cap | – | – |
| P/E (trailing) | 0.1 | 12.2 |
| Dividend yield | 0.00% | 6.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LGCL | NMT |
|---|---|---|
| 2022 | – | -30.4% |
| 2023 | – | +2.6% |
| 2024 | – | +16.3% |
| 2025 | -91.0% | +5.8% |
| 2026 | -97.5% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LGCL and NMT good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LGCL and NMT?
As of 2026-08-27, the correlation of weekly returns between LGCL and NMT is 0.30 over 3 years, 0.42 over 1 year and n/a over 5 years.
Is NMT a good diversifier for LGCL?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/lgcl-vs-nmt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lgcl-vs-nmt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LGCL correlations · NMT correlations
