MHD vs MYN: Correlation
Measured on weekly returns over the past three years, Blackrock MuniHoldings Fund, Inc. (MHD) and Blackrock MuniYield New York Quality Fund, Inc. (MYN) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHD and MYN?
On 3 years of weekly data the MHD/MYN correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.85 over 3. The 5-year figure is 0.80, and annualized covariance runs at 105.7 %².
Among the 26 assets we track against MHD, MYN ranks #9 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.2% for MHD and +11.6% for MYN.
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 MYN: side by side
| MHD (Blackrock MuniHoldings Fund, Inc.) | MYN (Blackrock MuniYield New York Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +11.6% |
| 5-year return | -12.7% | -12.0% |
| Volatility (ann.) | 11.7% | 10.7% |
| Beta vs S&P 500 | 0.26 | 0.24 |
| Max drawdown (3Y) | -13.2% | -11.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | 37.0 | 60.9 |
| Dividend yield | 6.23% | 6.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHD | MYN |
|---|---|---|
| 2022 | -23.7% | -27.0% |
| 2023 | +2.1% | +9.9% |
| 2024 | +3.4% | +2.8% |
| 2025 | +7.1% | +4.6% |
| 2026 | +1.8% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHD and MYN good diversifiers for each other?
No. With a correlation of 0.85, MHD and MYN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MHD and MYN?
As of 2026-08-27, the correlation of weekly returns between MHD and MYN is 0.85 over 3 years, 0.76 over 1 year and 0.80 over 5 years.
Is MYN a good diversifier for MHD?
No. With a correlation of 0.85, MHD and MYN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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: MHD correlations · MYN correlations
