MIY vs QQQ: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Michigan Quality Fund, Inc. (MIY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIY and QQQ?
On 3 years of weekly data the MIY/QQQ correlation comes out at 0.12, weak. Recent behaviour matches the longer record: 0.04 over 1 year against 0.12 over 3. The 5-year figure is 0.26, and annualized covariance runs at 25.7 %².
Among the 11 assets we track against MIY, QQQ sits near the bottom by co-movement, at rank #7. Over the last 12 months QQQ came out ahead by 6.1 percentage points (+20.2% against +26.3%). One caveat on sizing: QQQ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQ: side by side
| MIY (Blackrock MuniYield Michigan Quality Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.2% | +26.3% |
| 5-year return | +4.3% | +95.4% |
| Volatility (ann.) | 11.3% | 19.6% |
| Beta vs S&P 500 | 0.14 | 1.28 |
| Max drawdown (3Y) | -11.1% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 37.3 | – |
| Dividend yield | 5.21% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | MIY | QQQ |
|---|---|---|
| 2022 | -24.1% | -32.6% |
| 2023 | +6.7% | +54.9% |
| 2024 | +3.5% | +25.6% |
| 2025 | +11.3% | +20.8% |
| 2026 | +11.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIY and QQQ good diversifiers for each other?
Yes. With a correlation of 0.12, MIY and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MIY and QQQ?
As of 2026-08-27, the correlation of weekly returns between MIY and QQQ is 0.12 over 3 years, 0.04 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for MIY?
Yes. With a correlation of 0.12, MIY and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.12 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
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Related comparisons
Hubs: MIY correlations · QQQ correlations
