NPCT vs WEA: Correlation
Measured on weekly returns over the past three years, Nuveen Core Plus Impact Fund (NPCT) and Western Asset Bond Fund Share of Beneficial Interest (WEA) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and WEA?
Over the past 3 years, NPCT and WEA moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 74.9 %².
By 3-year correlation, WEA places #10 of the 17 assets tracked against NPCT. Neither side won the trailing year by much: -0.3% against +2.2%.
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 WEA: side by side
| NPCT (Nuveen Core Plus Impact Fund) | WEA (Western Asset Bond Fund Share of Beneficial Interest) | |
|---|---|---|
| 1-year return | -0.3% | +2.2% |
| 5-year return | -14.4% | +4.5% |
| Volatility (ann.) | 11.7% | 10.5% |
| Beta vs S&P 500 | 0.38 | 0.29 |
| Max drawdown (3Y) | -10.8% | -11.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.7 | 12.6 |
| Dividend yield | 0.00% | 4.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPCT | WEA |
|---|---|---|
| 2022 | -37.5% | -20.2% |
| 2023 | +7.8% | +9.6% |
| 2024 | +17.3% | +7.7% |
| 2025 | +9.9% | +10.6% |
| 2026 | +2.3% | -0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and WEA good diversifiers for each other?
Only partially. A correlation of 0.61 means NPCT and WEA 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 WEA?
As of 2026-08-27, the correlation of weekly returns between NPCT and WEA is 0.61 over 3 years, 0.59 over 1 year and 0.59 over 5 years.
Is WEA a good diversifier for NPCT?
Only partially. A correlation of 0.61 means NPCT and WEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
A reading of 0.61 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-wea.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npct-vs-wea/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NPCT correlations · WEA correlations
