MIY vs MYN: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Michigan Quality Fund, Inc. (MIY) and Blackrock MuniYield New York Quality Fund, Inc. (MYN) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIY and MYN?
On 3 years of weekly data the MIY/MYN correlation comes out at 0.69, strong. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.69 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 83.6 %².
By 3-year correlation, MYN places #5 of the 11 assets tracked against MIY. On 12-month performance MIY holds a 8.6-point edge, +20.2% against +11.6%.
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.
MIY vs MYN: side by side
| MIY (Blackrock MuniYield Michigan Quality Fund, Inc.) | MYN (Blackrock MuniYield New York Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +20.2% | +11.6% |
| 5-year return | +4.3% | -12.0% |
| Volatility (ann.) | 11.3% | 10.7% |
| Beta vs S&P 500 | 0.14 | 0.24 |
| Max drawdown (3Y) | -11.1% | -11.2% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | 37.3 | 60.9 |
| Dividend yield | 5.21% | 6.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIY | MYN |
|---|---|---|
| 2022 | -24.1% | -27.0% |
| 2023 | +6.7% | +9.9% |
| 2024 | +3.5% | +2.8% |
| 2025 | +11.3% | +4.6% |
| 2026 | +11.9% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIY and MYN good diversifiers for each other?
To a limited degree. At 0.69 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 MIY and MYN?
As of 2026-08-27, the correlation of weekly returns between MIY and MYN is 0.69 over 3 years, 0.31 over 1 year and 0.65 over 5 years.
Is MYN a good diversifier for MIY?
To a limited degree. At 0.69 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 0.69 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.
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Related comparisons
Hubs: MIY correlations · MYN correlations
