NVG vs VTN: Correlation
Measured on weekly returns over the past three years, Nuveen AMT-Free Municipal Credit Income Fund (NVG) and Invesco Trust for Investment Grade New York Municipals (VTN) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVG and VTN?
Across a 3-year window, the weekly returns of NVG and VTN correlate at 0.78, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 143.1 %².
By 3-year correlation, VTN places #11 of the 28 assets tracked against NVG. Their 12-month results are close: +12.4% for NVG against +14.7% for VTN.
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.
NVG vs VTN: side by side
| NVG (Nuveen AMT-Free Municipal Credit Income Fund) | VTN (Invesco Trust for Investment Grade New York Municipals) | |
|---|---|---|
| 1-year return | +12.4% | +14.7% |
| 5-year return | -7.8% | +4.2% |
| Volatility (ann.) | 13.0% | 14.2% |
| Beta vs S&P 500 | 0.32 | 0.32 |
| Max drawdown (3Y) | -12.9% | -14.5% |
| Market cap | $2.7B | $0.2B |
| P/E (trailing) | 13.8 | 35.8 |
| Dividend yield | 7.75% | 7.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVG | VTN |
|---|---|---|
| 2022 | -28.5% | -21.1% |
| 2023 | +2.0% | +7.3% |
| 2024 | +10.8% | +6.8% |
| 2025 | +11.6% | +18.9% |
| 2026 | +1.9% | -1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVG and VTN good diversifiers for each other?
To a limited degree. At 0.78 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 NVG and VTN?
The NVG/VTN correlation stands at 0.78 on a 3-year window (1 year: 0.73, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is VTN a good diversifier for NVG?
To a limited degree. At 0.78 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 0.78 mean?
A reading of 0.78 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/nvg-vs-vtn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvg-vs-vtn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVG correlations · VTN correlations
