MHD vs NXP: Correlation
How closely do Blackrock MuniHoldings Fund, Inc. (MHD) and Nuveen Select Tax Free Income Portfolio (NXP) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHD and NXP?
Across a 3-year window, the weekly returns of MHD and NXP correlate at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.49 versus 0.61 over 3 years. Stretching to 5 years gives 0.59, with an annualized covariance of 65.5 %².
Among the 26 assets we track against MHD, NXP ranks #20 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.2% for MHD and +6.3% for NXP.
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.
MHD vs NXP: side by side
| MHD (Blackrock MuniHoldings Fund, Inc.) | NXP (Nuveen Select Tax Free Income Portfolio) | |
|---|---|---|
| 1-year return | +10.2% | +6.3% |
| 5-year return | -12.7% | +0.3% |
| Volatility (ann.) | 11.7% | 9.1% |
| Beta vs S&P 500 | 0.26 | 0.11 |
| Max drawdown (3Y) | -13.2% | -9.1% |
| Market cap | – | – |
| P/E (trailing) | 37.0 | 24.9 |
| Dividend yield | 6.23% | 4.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHD | NXP |
|---|---|---|
| 2022 | -23.7% | -9.5% |
| 2023 | +2.1% | +10.7% |
| 2024 | +3.4% | +6.9% |
| 2025 | +7.1% | -2.7% |
| 2026 | +1.8% | +3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHD and NXP good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MHD and NXP?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.49 over the last year and 0.59 over 5 years.
Is NXP a good diversifier for MHD?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mhd-vs-nxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mhd-vs-nxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MHD correlations · NXP correlations
