NRK vs NVG: Correlation
Measured on weekly returns over the past three years, Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) and Nuveen AMT-Free Municipal Credit Income Fund (NVG) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRK and NVG?
Across a 3-year window, the weekly returns of NRK and NVG correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Stretching to 5 years gives 0.80, with an annualized covariance of 110.7 %².
NVG is one of the assets that tracks NRK most closely: it ranks #3 out of the 14 assets we track against NRK. Twelve-month performance is nearly a tie, at +17.4% for NRK and +12.4% for NVG.
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.
NRK vs NVG: side by side
| NRK (Nuveen New York AMT-Free Quality Municipal Income Fund) | NVG (Nuveen AMT-Free Municipal Credit Income Fund) | |
|---|---|---|
| 1-year return | +17.4% | +12.4% |
| 5-year return | -2.0% | -7.8% |
| Volatility (ann.) | 10.7% | 13.0% |
| Beta vs S&P 500 | 0.27 | 0.32 |
| Max drawdown (3Y) | -11.5% | -12.9% |
| Market cap | $0.9B | $2.7B |
| P/E (trailing) | 32.1 | 13.8 |
| Dividend yield | 8.15% | 7.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRK | NVG |
|---|---|---|
| 2022 | -21.8% | -28.5% |
| 2023 | +7.1% | +2.0% |
| 2024 | +5.9% | +10.8% |
| 2025 | +4.7% | +11.6% |
| 2026 | +7.1% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRK and NVG good diversifiers for each other?
No. With a correlation of 0.80, NRK and NVG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NRK and NVG?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.73 over the last year and 0.80 over 5 years.
Is NVG a good diversifier for NRK?
No. With a correlation of 0.80, NRK and NVG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 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/nrk-vs-nvg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nrk-vs-nvg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRK correlations · NVG correlations
