MKDW vs NAZ: Correlation
Measured on weekly returns over the past three years, MKDWELL Tech Inc. (MKDW) and Nuveen Arizona Quality Municipal Income Fund (NAZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKDW and NAZ?
On 3 years of weekly data the MKDW/NAZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.24). The 5-year figure is n/a, and annualized covariance runs at -363.8 %².
Among the 16 assets we track against MKDW, NAZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with MKDW ahead by 72.2 points (+83.1% versus +10.9%). Risk is not evenly split, since MKDW carries 11.2 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.
MKDW vs NAZ: side by side
| MKDW (MKDWELL Tech Inc.) | NAZ (Nuveen Arizona Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | +83.1% | +10.9% |
| 5-year return | n/a | +0.2% |
| Volatility (ann.) | 130.7% | 11.7% |
| Beta vs S&P 500 | 1.90 | 0.25 |
| Max drawdown (3Y) | -99.4% | -13.8% |
| Market cap | – | – |
| P/E (trailing) | – | 22.0 |
| Dividend yield | 0.00% | 6.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MKDW | NAZ |
|---|---|---|
| 2022 | – | -27.2% |
| 2023 | – | -0.5% |
| 2024 | -91.3% | +13.0% |
| 2025 | -82.6% | +12.1% |
| 2026 | +138.0% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKDW and NAZ good diversifiers for each other?
Yes. With a correlation of -0.24, MKDW and NAZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MKDW and NAZ?
As of 2026-08-27, the correlation of weekly returns between MKDW and NAZ is -0.24 over 3 years, -0.36 over 1 year and n/a over 5 years.
Is NAZ a good diversifier for MKDW?
Yes. With a correlation of -0.24, MKDW and NAZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/mkdw-vs-naz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mkdw-vs-naz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MKDW correlations · NAZ correlations
