NPCT vs WDI: Correlation
Nuveen Core Plus Impact Fund (NPCT) and Western Asset Diversified Income Fund (WDI) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and WDI?
Over the past 3 years, NPCT and WDI moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 100.0 %².
WDI is one of the assets that tracks NPCT most closely: it ranks #3 out of the 17 assets we track against NPCT. Neither side won the trailing year by much: -0.3% against -2.3%.
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 WDI: side by side
| NPCT (Nuveen Core Plus Impact Fund) | WDI (Western Asset Diversified Income Fund) | |
|---|---|---|
| 1-year return | -0.3% | -2.3% |
| 5-year return | -14.4% | +14.7% |
| Volatility (ann.) | 11.7% | 11.7% |
| Beta vs S&P 500 | 0.38 | 0.46 |
| Max drawdown (3Y) | -10.8% | -14.1% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | 10.7 | 9.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPCT | WDI |
|---|---|---|
| 2022 | -37.5% | -23.3% |
| 2023 | +7.8% | +25.1% |
| 2024 | +17.3% | +13.9% |
| 2025 | +9.9% | +10.7% |
| 2026 | +2.3% | +0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and WDI good diversifiers for each other?
Only partially. A correlation of 0.73 means NPCT and WDI 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 WDI?
As of 2026-08-27, the correlation of weekly returns between NPCT and WDI is 0.73 over 3 years, 0.70 over 1 year and 0.71 over 5 years.
Is WDI a good diversifier for NPCT?
Only partially. A correlation of 0.73 means NPCT and WDI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
A reading of 0.73 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-wdi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npct-vs-wdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NPCT correlations · WDI correlations
