FNUC vs MIY: Correlation
How closely do Frontier Nuclear and Minerals Inc. (FNUC) and Blackrock MuniYield Michigan Quality Fund, Inc. (MIY) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNUC and MIY?
Over the past 3 years, FNUC and MIY moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.13 versus -0.21 over 3 years. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -572.9 %².
Out of 26 assets tracked against FNUC, MIY lands near the bottom at #24. The last year tells two different stories: MIY led by 79.3 percentage points, -59.1% for FNUC against +20.2% for MIY. Note the risk asymmetry: FNUC runs 21.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FNUC vs MIY: side by side
| FNUC (Frontier Nuclear and Minerals Inc.) | MIY (Blackrock MuniYield Michigan Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | -59.1% | +20.2% |
| 5-year return | -99.0% | +4.3% |
| Volatility (ann.) | 237.4% | 11.3% |
| Beta vs S&P 500 | 1.55 | 0.14 |
| Max drawdown (3Y) | -94.2% | -11.1% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | 37.3 |
| Dividend yield | 0.00% | 5.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNUC | MIY |
|---|---|---|
| 2022 | -60.4% | -24.1% |
| 2023 | -48.7% | +6.7% |
| 2024 | -17.9% | +3.5% |
| 2025 | -76.0% | +11.3% |
| 2026 | -43.3% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNUC and MIY good diversifiers for each other?
Yes. With a correlation of -0.21, FNUC and MIY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNUC and MIY?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.13 over the last year and -0.11 over 5 years.
Is MIY a good diversifier for FNUC?
Yes. With a correlation of -0.21, FNUC and MIY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/fnuc-vs-miy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnuc-vs-miy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNUC correlations · MIY correlations
