NBB vs VGI: Correlation
Measured on weekly returns over the past three years, Nuveen Taxable Municipal Income Fund (NBB) and Virtus Global Multi-Sector Income Fund (VGI) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBB and VGI?
Across a 3-year window, the weekly returns of NBB and VGI correlate at 0.76, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 92.7 %².
VGI is one of the assets that tracks NBB most closely: it ranks #2 out of the 19 assets we track against NBB. Neither side won the trailing year by much: +5.3% against +3.8%.
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.
NBB vs VGI: side by side
| NBB (Nuveen Taxable Municipal Income Fund) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +5.3% | +3.8% |
| 5-year return | -5.4% | +11.9% |
| Volatility (ann.) | 12.0% | 10.3% |
| Beta vs S&P 500 | 0.22 | 0.38 |
| Max drawdown (3Y) | -11.4% | -11.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 16.4 | 7.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBB | VGI |
|---|---|---|
| 2022 | -24.6% | -22.3% |
| 2023 | +7.6% | +13.4% |
| 2024 | +1.4% | +10.4% |
| 2025 | +13.6% | +16.1% |
| 2026 | +2.4% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBB and VGI good diversifiers for each other?
Only partially. A correlation of 0.76 means NBB and VGI 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 NBB and VGI?
As of 2026-08-27, the correlation of weekly returns between NBB and VGI is 0.76 over 3 years, 0.69 over 1 year and 0.66 over 5 years.
Is VGI a good diversifier for NBB?
Only partially. A correlation of 0.76 means NBB and VGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nbb-vs-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbb-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NBB correlations · VGI correlations
