FEMY vs MIY: Correlation
Femasys Inc. (FEMY) and Blackrock MuniYield Michigan Quality Fund, Inc. (MIY) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEMY and MIY?
On 3 years of weekly data the FEMY/MIY correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.05 versus -0.23 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -1296.2 %².
Within FEMY's tracked universe of 32 assets, MIY comes in at #18 by 3-year correlation. The last year tells two different stories: MIY led by 81.4 percentage points, -61.2% for FEMY against +20.2% for MIY. One caveat on sizing: FEMY is 45.1 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.
FEMY vs MIY: side by side
| FEMY (Femasys Inc.) | MIY (Blackrock MuniYield Michigan Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | -61.2% | +20.2% |
| 5-year return | -98.0% | +4.3% |
| Volatility (ann.) | 509.3% | 11.3% |
| Beta vs S&P 500 | -0.49 | 0.14 |
| Max drawdown (3Y) | -97.2% | -11.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 37.3 |
| Dividend yield | 0.00% | 5.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FEMY | MIY |
|---|---|---|
| 2022 | -76.9% | -24.1% |
| 2023 | +8.3% | +6.7% |
| 2024 | +12.8% | +3.5% |
| 2025 | -47.6% | +11.3% |
| 2026 | -75.8% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEMY and MIY good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FEMY and MIY?
The FEMY/MIY correlation stands at -0.23 on a 3-year window (1 year: -0.05, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is MIY a good diversifier for FEMY?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/femy-vs-miy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/femy-vs-miy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FEMY correlations · MIY correlations
