EVN vs MYI: Correlation
Eaton Vance Municipal Income Trust (EVN) and Blackrock MuniYield Quality Fund III, Inc (MYI) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVN and MYI?
Over the past 3 years, EVN and MYI moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 104.5 %².
In EVN's tracked universe of 11 assets, MYI sits right near the top at #3. Twelve-month performance is nearly a tie, at +8.4% for EVN and +8.7% for MYI.
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.
EVN vs MYI: side by side
| EVN (Eaton Vance Municipal Income Trust) | MYI (Blackrock MuniYield Quality Fund III, Inc) | |
|---|---|---|
| 1-year return | +8.4% | +8.7% |
| 5-year return | -2.5% | -5.8% |
| Volatility (ann.) | 12.0% | 11.8% |
| Beta vs S&P 500 | 0.36 | 0.30 |
| Max drawdown (3Y) | -10.4% | -11.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 11.6 | 28.3 |
| Dividend yield | 2.83% | 6.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVN | MYI |
|---|---|---|
| 2022 | -25.0% | -20.5% |
| 2023 | +4.4% | +8.8% |
| 2024 | +8.9% | +0.6% |
| 2025 | +12.8% | +4.8% |
| 2026 | +3.2% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVN and MYI good diversifiers for each other?
To a limited degree. At 0.74 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 EVN and MYI?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.69 over the last year and 0.74 over 5 years.
Is MYI a good diversifier for EVN?
To a limited degree. At 0.74 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 0.74 mean?
On the −1 to +1 scale, 0.74 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/evn-vs-myi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evn-vs-myi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVN correlations · MYI correlations
