BHV vs MHD: Correlation
BlackRock Virginia Municipal Bond Trust (BHV) and Blackrock MuniHoldings Fund, Inc. (MHD) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHV and MHD?
Across a 3-year window, the weekly returns of BHV and MHD correlate at 0.60, strong. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.60). Stretching to 5 years gives 0.50, with an annualized covariance of 88.0 %².
MHD is one of the assets that tracks BHV most closely: it ranks #3 out of the 10 assets we track against BHV. Their recent paths diverged sharply: over the last 12 months BHV outperformed by 21.3 percentage points (+31.5% for BHV against +10.2% for MHD).
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.
BHV vs MHD: side by side
| BHV (BlackRock Virginia Municipal Bond Trust) | MHD (Blackrock MuniHoldings Fund, Inc.) | |
|---|---|---|
| 1-year return | +31.5% | +10.2% |
| 5-year return | -16.7% | -12.7% |
| Volatility (ann.) | 12.5% | 11.7% |
| Beta vs S&P 500 | 0.20 | 0.26 |
| Max drawdown (3Y) | -11.5% | -13.2% |
| Market cap | – | – |
| P/E (trailing) | – | 37.0 |
| Dividend yield | 4.82% | 6.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHV | MHD |
|---|---|---|
| 2022 | -36.1% | -23.7% |
| 2023 | -1.0% | +2.1% |
| 2024 | +6.0% | +3.4% |
| 2025 | +0.8% | +7.1% |
| 2026 | +24.4% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHV and MHD good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHV and MHD?
As of 2026-08-27, the correlation of weekly returns between BHV and MHD is 0.60 over 3 years, 0.42 over 1 year and 0.50 over 5 years.
Is MHD a good diversifier for BHV?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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
$ curl https://www.pairbook.io/api/v1/pairs/bhv-vs-mhd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bhv-vs-mhd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHV correlations · MHD correlations
