NVNI vs VPV: Correlation
Nvni Group Limited (NVNI) and Invesco Pennsylvania Value Municipal Income Trust (VPV) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNI and VPV?
Over the past 3 years, NVNI and VPV moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.27). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -3002.6 %².
Within NVNI's tracked universe of 60 assets, VPV comes in at #51 by 3-year correlation. The last year tells two different stories: VPV led by 106.2 percentage points, -83.0% for NVNI against +23.2% for VPV. Note the risk asymmetry: NVNI runs 79.8 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.
NVNI vs VPV: side by side
| NVNI (Nvni Group Limited) | VPV (Invesco Pennsylvania Value Municipal Income Trust) | |
|---|---|---|
| 1-year return | -83.0% | +23.2% |
| 5-year return | -98.9% | +11.8% |
| Volatility (ann.) | 949.3% | 11.9% |
| Beta vs S&P 500 | -4.03 | 0.26 |
| Max drawdown (3Y) | -99.3% | -12.4% |
| Market cap | – | – |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.00% | 7.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVNI | VPV |
|---|---|---|
| 2022 | +4.4% | -26.3% |
| 2023 | -85.4% | +6.2% |
| 2024 | +64.4% | +9.1% |
| 2025 | -89.2% | +10.0% |
| 2026 | -60.8% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVNI and VPV good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between NVNI and VPV?
As of 2026-08-27, the correlation of weekly returns between NVNI and VPV is -0.27 over 3 years, -0.09 over 1 year and -0.19 over 5 years.
Is VPV a good diversifier for NVNI?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: NVNI correlations · VPV correlations
