MPA vs NVG: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Pennsylvania Quality Fund (MPA) and Nuveen AMT-Free Municipal Credit Income Fund (NVG) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and NVG?
On 3 years of weekly data the MPA/NVG correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 122.5 %².
In MPA's tracked universe of 14 assets, NVG sits right near the top at #2. Neither side won the trailing year by much: +8.6% against +12.4%.
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.
MPA vs NVG: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | NVG (Nuveen AMT-Free Municipal Credit Income Fund) | |
|---|---|---|
| 1-year return | +8.6% | +12.4% |
| 5-year return | -10.2% | -7.8% |
| Volatility (ann.) | 11.5% | 13.0% |
| Beta vs S&P 500 | 0.27 | 0.32 |
| Max drawdown (3Y) | -14.7% | -12.9% |
| Market cap | $0.1B | $2.7B |
| P/E (trailing) | 33.5 | 13.8 |
| Dividend yield | 6.84% | 7.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | NVG |
|---|---|---|
| 2022 | -31.0% | -28.5% |
| 2023 | +9.7% | +2.0% |
| 2024 | +6.3% | +10.8% |
| 2025 | +1.8% | +11.6% |
| 2026 | +3.2% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and NVG good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MPA and NVG?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.82 over the last year and 0.70 over 5 years.
Is NVG a good diversifier for MPA?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/mpa-vs-nvg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mpa-vs-nvg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPA correlations · NVG correlations
