NAN vs NRK: Correlation
Measured on weekly returns over the past three years, Nuveen New York Quality Municipal Income Fund (NAN) and Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) 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 NAN and NRK?
Over the past 3 years, NAN and NRK moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 90.5 %².
By 3-year correlation, NRK places #4 of the 15 assets tracked against NAN. Over the last 12 months NRK came out ahead by 9.2 percentage points (+8.2% against +17.4%).
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.
NAN vs NRK: side by side
| NAN (Nuveen New York Quality Municipal Income Fund) | NRK (Nuveen New York AMT-Free Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | +8.2% | +17.4% |
| 5-year return | -2.8% | -2.0% |
| Volatility (ann.) | 10.3% | 10.7% |
| Beta vs S&P 500 | 0.26 | 0.27 |
| Max drawdown (3Y) | -11.2% | -11.5% |
| Market cap | – | $0.9B |
| P/E (trailing) | 30.5 | 32.1 |
| Dividend yield | 7.90% | 8.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAN | NRK |
|---|---|---|
| 2022 | -24.0% | -21.8% |
| 2023 | +8.2% | +7.1% |
| 2024 | +10.2% | +5.9% |
| 2025 | +6.6% | +4.7% |
| 2026 | +2.3% | +7.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAN and NRK good diversifiers for each other?
No: a correlation of 0.82 means NAN and NRK tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between NAN and NRK?
As of 2026-08-27, the correlation of weekly returns between NAN and NRK is 0.82 over 3 years, 0.81 over 1 year and 0.84 over 5 years.
Is NRK a good diversifier for NAN?
No: a correlation of 0.82 means NAN and NRK tend to fall together, which is precisely when diversification is supposed to help.
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/nan-vs-nrk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nan-vs-nrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAN correlations · NRK correlations
