MPA vs NVNI: Correlation
How closely do Blackrock MuniYield Pennsylvania Quality Fund (MPA) and Nvni Group Limited (NVNI) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and NVNI?
On 3 years of weekly data the MPA/NVNI correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.29). The 5-year figure is -0.19, and annualized covariance runs at -3172.7 %².
Among the 14 assets we track against MPA, NVNI sits near the bottom by co-movement, at rank #12. The last year tells two different stories: MPA led by 91.6 percentage points, +8.6% for MPA against -83.0% for NVNI. Note the risk asymmetry: NVNI runs 82.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NVNI: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | NVNI (Nvni Group Limited) | |
|---|---|---|
| 1-year return | +8.6% | -83.0% |
| 5-year return | -10.2% | -98.9% |
| Volatility (ann.) | 11.5% | 949.3% |
| Beta vs S&P 500 | 0.27 | -4.03 |
| Max drawdown (3Y) | -14.7% | -99.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 33.5 | – |
| Dividend yield | 6.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | NVNI |
|---|---|---|
| 2022 | -31.0% | +4.4% |
| 2023 | +9.7% | -85.4% |
| 2024 | +6.3% | +64.4% |
| 2025 | +1.8% | -89.2% |
| 2026 | +3.2% | -60.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and NVNI good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between MPA and NVNI?
As of 2026-08-27, the correlation of weekly returns between MPA and NVNI is -0.29 over 3 years, -0.03 over 1 year and -0.19 over 5 years.
Is NVNI a good diversifier for MPA?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-nvni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpa-vs-nvni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPA correlations · NVNI correlations
