MHD vs MYI: Correlation
How closely do Blackrock MuniHoldings Fund, Inc. (MHD) and Blackrock MuniYield Quality Fund III, Inc (MYI) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHD and MYI?
Across a 3-year window, the weekly returns of MHD and MYI correlate at 0.86, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.86 over 3. Stretching to 5 years gives 0.86, with an annualized covariance of 118.6 %².
Within MHD's tracked universe of 26 assets, MYI comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +10.2% against +8.7%.
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.
MHD vs MYI: side by side
| MHD (Blackrock MuniHoldings Fund, Inc.) | MYI (Blackrock MuniYield Quality Fund III, Inc) | |
|---|---|---|
| 1-year return | +10.2% | +8.7% |
| 5-year return | -12.7% | -5.8% |
| Volatility (ann.) | 11.7% | 11.8% |
| Beta vs S&P 500 | 0.26 | 0.30 |
| Max drawdown (3Y) | -13.2% | -11.8% |
| Market cap | – | – |
| P/E (trailing) | 37.0 | 28.3 |
| Dividend yield | 6.23% | 6.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHD | MYI |
|---|---|---|
| 2022 | -23.7% | -20.5% |
| 2023 | +2.1% | +8.8% |
| 2024 | +3.4% | +0.6% |
| 2025 | +7.1% | +4.8% |
| 2026 | +1.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHD and MYI good diversifiers for each other?
No: a correlation of 0.86 means MHD and MYI tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MHD and MYI?
As of 2026-08-27, the correlation of weekly returns between MHD and MYI is 0.86 over 3 years, 0.83 over 1 year and 0.86 over 5 years.
Is MYI a good diversifier for MHD?
No: a correlation of 0.86 means MHD and MYI tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
A reading of 0.86 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
$ curl https://www.pairbook.io/api/v1/pairs/mhd-vs-myi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mhd-vs-myi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MHD correlations · MYI correlations
