MPA vs MQY: Correlation
How closely do Blackrock MuniYield Pennsylvania Quality Fund (MPA) and Blackrock MuniYield Quality Fund, Inc. (MQY) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and MQY?
Over the past 3 years, MPA and MQY moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.83 lands near the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 121.0 %².
Few assets follow MPA as closely as MQY, which ranks #1 of 14 tracked partners. Neither side won the trailing year by much: +8.6% against +8.0%.
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.
MPA vs MQY: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | MQY (Blackrock MuniYield Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +8.0% |
| 5-year return | -10.2% | -13.1% |
| Volatility (ann.) | 11.5% | 12.8% |
| Beta vs S&P 500 | 0.27 | 0.33 |
| Max drawdown (3Y) | -14.7% | -17.0% |
| Market cap | $0.1B | $0.8B |
| P/E (trailing) | 33.5 | 35.8 |
| Dividend yield | 6.84% | 6.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | MQY |
|---|---|---|
| 2022 | -31.0% | -24.2% |
| 2023 | +9.7% | +10.2% |
| 2024 | +6.3% | -0.1% |
| 2025 | +1.8% | +4.3% |
| 2026 | +3.2% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and MQY good diversifiers for each other?
No: a correlation of 0.82 means MPA and MQY tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MPA and MQY?
The MPA/MQY correlation stands at 0.82 on a 3-year window (1 year: 0.83, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is MQY a good diversifier for MPA?
No: a correlation of 0.82 means MPA and MQY tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mpa-vs-mqy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpa-vs-mqy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPA correlations · MQY correlations
