NAD vs NXP: Correlation
Measured on weekly returns over the past three years, Nuveen Quality Municipal Income Fund (NAD) and Nuveen Select Tax Free Income Portfolio (NXP) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAD and NXP?
Over the past 3 years, NAD and NXP moved with a correlation of 0.60, which is strong. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 60.4 %².
Among the 26 assets we track against NAD, NXP ranks #20 by 3-year correlation. Over the last 12 months NAD came out ahead by 5.8 percentage points (+12.1% against +6.3%).
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.
NAD vs NXP: side by side
| NAD (Nuveen Quality Municipal Income Fund) | NXP (Nuveen Select Tax Free Income Portfolio) | |
|---|---|---|
| 1-year return | +12.1% | +6.3% |
| 5-year return | -2.4% | +0.3% |
| Volatility (ann.) | 11.0% | 9.1% |
| Beta vs S&P 500 | 0.27 | 0.11 |
| Max drawdown (3Y) | -11.7% | -9.1% |
| Market cap | $2.7B | – |
| P/E (trailing) | 14.9 | 24.9 |
| Dividend yield | 7.38% | 4.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAD | NXP |
|---|---|---|
| 2022 | -22.8% | -9.5% |
| 2023 | +1.3% | +10.7% |
| 2024 | +8.8% | +6.9% |
| 2025 | +11.4% | -2.7% |
| 2026 | +2.5% | +3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAD and NXP good diversifiers for each other?
Only partially. A correlation of 0.60 means NAD and NXP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NAD and NXP?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.51 over the last year and 0.60 over 5 years.
Is NXP a good diversifier for NAD?
Only partially. A correlation of 0.60 means NAD and NXP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/nad-vs-nxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nad-vs-nxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NAD correlations · NXP correlations
