NBH vs NMI: Correlation
Neuberger Municipal Fund Inc. (NBH) and Nuveen Municipal Income Fund, Inc. (NMI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBH and NMI?
Over the past 3 years, NBH and NMI moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 65.9 %².
Within NBH's tracked universe of 17 assets, NMI comes in at #10 by 3-year correlation. Their 12-month results are close: +10.2% for NBH against +11.4% for NMI.
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.
NBH vs NMI: side by side
| NBH (Neuberger Municipal Fund Inc.) | NMI (Nuveen Municipal Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +11.4% |
| 5-year return | -21.0% | +8.0% |
| Volatility (ann.) | 11.4% | 12.7% |
| Beta vs S&P 500 | 0.30 | 0.20 |
| Max drawdown (3Y) | -11.1% | -11.0% |
| Market cap | – | – |
| P/E (trailing) | 14.6 | 18.2 |
| Dividend yield | 6.35% | 4.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBH | NMI |
|---|---|---|
| 2022 | -28.2% | -15.0% |
| 2023 | +4.0% | +1.9% |
| 2024 | +5.3% | +7.0% |
| 2025 | +4.2% | +10.5% |
| 2026 | +4.7% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBH and NMI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NBH and NMI?
As of 2026-08-27, the correlation of weekly returns between NBH and NMI is 0.45 over 3 years, 0.44 over 1 year and 0.43 over 5 years.
Is NMI a good diversifier for NBH?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/nbh-vs-nmi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nbh-vs-nmi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NBH correlations · NMI correlations
