NPCT vs WIA: Correlation
Measured on weekly returns over the past three years, Nuveen Core Plus Impact Fund (NPCT) and Western Asset Inflation-Linked Income Fund (WIA) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and WIA?
Over the past 3 years, NPCT and WIA moved with a correlation of 0.67, which is strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 56.5 %².
By 3-year correlation, WIA places #7 of the 17 assets tracked against NPCT. Twelve-month performance is nearly a tie, at -0.3% for NPCT and +2.1% for WIA. Note the risk asymmetry: NPCT runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WIA: side by side
| NPCT (Nuveen Core Plus Impact Fund) | WIA (Western Asset Inflation-Linked Income Fund) | |
|---|---|---|
| 1-year return | -0.3% | +2.1% |
| 5-year return | -14.4% | -3.9% |
| Volatility (ann.) | 11.7% | 7.2% |
| Beta vs S&P 500 | 0.38 | 0.20 |
| Max drawdown (3Y) | -10.8% | -6.4% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 10.7 | 14.0 |
| Dividend yield | 0.00% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPCT | WIA |
|---|---|---|
| 2022 | -37.5% | -25.8% |
| 2023 | +7.8% | +5.0% |
| 2024 | +17.3% | +6.1% |
| 2025 | +9.9% | +11.4% |
| 2026 | +2.3% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and WIA good diversifiers for each other?
To a limited degree. At 0.67 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 NPCT and WIA?
As of 2026-08-27, the correlation of weekly returns between NPCT and WIA is 0.67 over 3 years, 0.74 over 1 year and 0.67 over 5 years.
Is WIA a good diversifier for NPCT?
To a limited degree. At 0.67 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 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: NPCT correlations · WIA correlations
