NPCT vs VBF: Correlation
How closely do Nuveen Core Plus Impact Fund (NPCT) and Invesco Bond Fund (VBF) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and VBF?
On 3 years of weekly data the NPCT/VBF correlation comes out at 0.68, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 72.5 %².
By 3-year correlation, VBF places #6 of the 17 assets tracked against NPCT. Neither side won the trailing year by much: -0.3% against +0.7%.
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.
NPCT vs VBF: side by side
| NPCT (Nuveen Core Plus Impact Fund) | VBF (Invesco Bond Fund) | |
|---|---|---|
| 1-year return | -0.3% | +0.7% |
| 5-year return | -14.4% | -4.4% |
| Volatility (ann.) | 11.7% | 9.2% |
| Beta vs S&P 500 | 0.38 | 0.19 |
| Max drawdown (3Y) | -10.8% | -11.5% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 10.7 | 14.4 |
| Dividend yield | 0.00% | 5.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPCT | VBF |
|---|---|---|
| 2022 | -37.5% | -17.8% |
| 2023 | +7.8% | +2.3% |
| 2024 | +17.3% | +7.0% |
| 2025 | +9.9% | +5.5% |
| 2026 | +2.3% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and VBF good diversifiers for each other?
Only partially. A correlation of 0.68 means NPCT and VBF 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 NPCT and VBF?
As of 2026-08-27, the correlation of weekly returns between NPCT and VBF is 0.68 over 3 years, 0.68 over 1 year and 0.64 over 5 years.
Is VBF a good diversifier for NPCT?
Only partially. A correlation of 0.68 means NPCT and VBF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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/npct-vs-vbf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/npct-vs-vbf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NPCT correlations · VBF correlations
