KTF vs MQY: Correlation
DWS Municipal Income Trust (KTF) and Blackrock MuniYield Quality Fund, Inc. (MQY) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KTF and MQY?
Across a 3-year window, the weekly returns of KTF and MQY correlate at 0.77, strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.77 over 3. Stretching to 5 years gives 0.77, with an annualized covariance of 115.8 %².
Within KTF's tracked universe of 13 assets, MQY comes in at #5 by 3-year correlation. Their 12-month results are close: +9.8% for KTF against +8.0% for MQY.
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.
KTF vs MQY: side by side
| KTF (DWS Municipal Income Trust) | MQY (Blackrock MuniYield Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +9.8% | +8.0% |
| 5-year return | -3.3% | -13.1% |
| Volatility (ann.) | 11.7% | 12.8% |
| Beta vs S&P 500 | 0.19 | 0.33 |
| Max drawdown (3Y) | -11.3% | -17.0% |
| Market cap | $0.3B | $0.8B |
| P/E (trailing) | 10.1 | 35.8 |
| Dividend yield | 8.35% | 6.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KTF | MQY |
|---|---|---|
| 2022 | -23.7% | -24.2% |
| 2023 | +7.1% | +10.2% |
| 2024 | +13.8% | -0.1% |
| 2025 | +4.6% | +4.3% |
| 2026 | +2.0% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KTF and MQY good diversifiers for each other?
To a limited degree. At 0.77 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 KTF and MQY?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.80 over the last year and 0.77 over 5 years.
Is MQY a good diversifier for KTF?
To a limited degree. At 0.77 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 0.77 mean?
On the −1 to +1 scale, 0.77 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/ktf-vs-mqy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ktf-vs-mqy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KTF correlations · MQY correlations
