DTF vs MYI: Correlation
DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and Blackrock MuniYield Quality Fund III, Inc (MYI) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTF and MYI?
Across a 3-year window, the weekly returns of DTF and MYI correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 36.5 %².
Within DTF's tracked universe of 10 assets, MYI comes in at #4 by 3-year correlation. Their 12-month results are close: +5.6% for DTF against +8.7% for MYI. One caveat on sizing: MYI is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DTF vs MYI: side by side
| DTF (DTF Tax-Free Income 2028 Term Fund Inc.) | MYI (Blackrock MuniYield Quality Fund III, Inc) | |
|---|---|---|
| 1-year return | +5.6% | +8.7% |
| 5-year return | -7.5% | -5.8% |
| Volatility (ann.) | 5.0% | 11.8% |
| Beta vs S&P 500 | 0.10 | 0.30 |
| Max drawdown (3Y) | -5.4% | -11.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 28.1 | 28.3 |
| Dividend yield | 3.37% | 6.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTF | MYI |
|---|---|---|
| 2022 | -21.1% | -20.5% |
| 2023 | +2.2% | +8.8% |
| 2024 | +8.2% | +0.6% |
| 2025 | +5.4% | +4.8% |
| 2026 | +3.1% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTF and MYI good diversifiers for each other?
Only partially. A correlation of 0.62 means DTF and MYI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DTF and MYI?
The DTF/MYI correlation stands at 0.62 on a 3-year window (1 year: 0.61, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is MYI a good diversifier for DTF?
Only partially. A correlation of 0.62 means DTF and MYI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dtf-vs-myi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dtf-vs-myi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTF correlations · MYI correlations
