NCV vs NMAI: Correlation
Measured on weekly returns over the past three years, Virtus Convertible & Income Fund (NCV) and Nuveen Multi-Asset Income Fund (NMAI) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCV and NMAI?
Over the past 3 years, NCV and NMAI moved with a correlation of 0.77, which is strong. Recent behaviour matches the longer record: 0.81 over 1 year against 0.77 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 202.0 %².
By 3-year correlation, NMAI places #4 of the 16 assets tracked against NCV. Twelve-month performance is nearly a tie, at +26.0% for NCV and +25.5% for NMAI.
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.
NCV vs NMAI: side by side
| NCV (Virtus Convertible & Income Fund) | NMAI (Nuveen Multi-Asset Income Fund) | |
|---|---|---|
| 1-year return | +26.0% | +25.5% |
| 5-year return | +22.6% | +36.4% |
| Volatility (ann.) | 18.3% | 14.2% |
| Beta vs S&P 500 | 0.88 | 0.68 |
| Max drawdown (3Y) | -17.8% | -13.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | 4.5 | 5.9 |
| Dividend yield | 9.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCV | NMAI |
|---|---|---|
| 2022 | -33.9% | -26.4% |
| 2023 | +12.7% | +19.5% |
| 2024 | +16.2% | +11.7% |
| 2025 | +22.6% | +20.0% |
| 2026 | +18.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCV and NMAI good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NCV and NMAI?
As of 2026-08-27, the correlation of weekly returns between NCV and NMAI is 0.77 over 3 years, 0.81 over 1 year and 0.80 over 5 years.
Is NMAI a good diversifier for NCV?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
A reading of 0.77 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ncv-vs-nmai.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ncv-vs-nmai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NCV correlations · NMAI correlations
