Nuveen Municipal Income (NMI) — Stock Correlations & Overview
Over the past year, NMI has moved most closely with IQI, PML, HPF. Explore the stocks most correlated and inversely correlated with NMI below, along with its price, financials, and company profile.
Stocks correlated with NMI
Correlation of daily returns. Higher positive values move with NMI; negative values move opposite it. Informational only, not investment advice.
Most correlated with NMI
| Symbol | Company | Correlation |
|---|---|---|
| IQI | INVESCO QUALITY MUNICIPAL SECURITIES | 0.28 |
| PML | PIMCO MUNICIPAL INCOME FUND II COMMON SHARES OF BENEFICIAL INT. | 0.28 |
| HPF | John Hancock Preferred Income Fund II | 0.27 |
| FMN | Federated Hermes Premier Municipal Income Fund | 0.27 |
| JLS | Nuveen Mortgage and Income Fund | 0.27 |
Most inversely correlated with NMI
| Symbol | Company | Correlation |
|---|---|---|
| TNON | Tenon Medical, Inc. Common StockSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | -0.30 |
| NXPL | NextPlat Corp Common StockTELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE) | -0.22 |
| NCI | Neo-Concept International Group Holdings Limited Class A Ordinary Shares | -0.21 |
| APRJ | Innovator Premium Income 30 Barrier ETF - April | -0.20 |
| JFIN | Jiayin Group Inc. American Depositary Shares | -0.20 |
Frequently asked questions about NMI correlations
- Which stocks are most correlated with NMI?
- Based on one year of daily returns, the stocks most correlated with Nuveen Municipal Income (NMI) are IQI (0.28), PML (0.28) and HPF (0.27). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NMI?
- Over the past year, the stocks most inversely correlated with Nuveen Municipal Income (NMI) are TNON (-0.30), NXPL (-0.22) and NCI (-0.21). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NMI correlations calculated?
- We compute the correlation of daily returns between NMI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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