MHD vs NRK: Correlation
Measured on weekly returns over the past three years, Blackrock MuniHoldings Fund, Inc. (MHD) and Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHD and NRK?
Across a 3-year window, the weekly returns of MHD and NRK correlate at 0.79, strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 98.6 %².
By 3-year correlation, NRK places #16 of the 26 assets tracked against MHD. Over the last 12 months NRK came out ahead by 7.2 percentage points (+10.2% against +17.4%).
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 NRK: side by side
| MHD (Blackrock MuniHoldings Fund, Inc.) | NRK (Nuveen New York AMT-Free Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | +10.2% | +17.4% |
| 5-year return | -12.7% | -2.0% |
| Volatility (ann.) | 11.7% | 10.7% |
| Beta vs S&P 500 | 0.26 | 0.27 |
| Max drawdown (3Y) | -13.2% | -11.5% |
| Market cap | – | $0.9B |
| P/E (trailing) | 37.0 | 32.1 |
| Dividend yield | 6.23% | 8.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHD | NRK |
|---|---|---|
| 2022 | -23.7% | -21.8% |
| 2023 | +2.1% | +7.1% |
| 2024 | +3.4% | +5.9% |
| 2025 | +7.1% | +4.7% |
| 2026 | +1.8% | +7.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHD and NRK good diversifiers for each other?
To a limited degree. At 0.79 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 MHD and NRK?
The MHD/NRK correlation stands at 0.79 on a 3-year window (1 year: 0.72, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is NRK a good diversifier for MHD?
To a limited degree. At 0.79 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 0.79 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/mhd-vs-nrk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mhd-vs-nrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MHD correlations · NRK correlations
