IQI vs MYN: Correlation
Measured on weekly returns over the past three years, Invesco Quality Municipal Income Trust (IQI) and Blackrock MuniYield New York Quality Fund, Inc. (MYN) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQI and MYN?
Over the past 3 years, IQI and MYN moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.83 over 3. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 103.7 %².
Within IQI's tracked universe of 27 assets, MYN comes in at #10 by 3-year correlation. The trailing year gives IQI the advantage: +16.7% versus +11.6%, a 5.1-point spread.
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.
IQI vs MYN: side by side
| IQI (Invesco Quality Municipal Income Trust) | MYN (Blackrock MuniYield New York Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +16.7% | +11.6% |
| 5-year return | +1.1% | -12.0% |
| Volatility (ann.) | 11.8% | 10.7% |
| Beta vs S&P 500 | 0.31 | 0.24 |
| Max drawdown (3Y) | -11.2% | -11.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | 29.9 | 60.9 |
| Dividend yield | 7.50% | 6.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IQI | MYN |
|---|---|---|
| 2022 | -26.9% | -27.0% |
| 2023 | +5.9% | +9.9% |
| 2024 | +10.5% | +2.8% |
| 2025 | +9.2% | +4.6% |
| 2026 | +7.1% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQI and MYN good diversifiers for each other?
No: a correlation of 0.83 means IQI and MYN tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IQI and MYN?
As of 2026-08-27, the correlation of weekly returns between IQI and MYN is 0.83 over 3 years, 0.78 over 1 year and 0.82 over 5 years.
Is MYN a good diversifier for IQI?
No: a correlation of 0.83 means IQI and MYN tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
A reading of 0.83 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: IQI correlations · MYN correlations
