MPA vs RMMZ: Correlation
Blackrock MuniYield Pennsylvania Quality Fund (MPA) and RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and RMMZ?
Across a 3-year window, the weekly returns of MPA and RMMZ correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 99.1 %².
Among the 14 assets we track against MPA, RMMZ ranks #6 by 3-year correlation. Their 12-month results are close: +8.6% for MPA against +9.6% for RMMZ.
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 RMMZ: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | RMMZ (RiverNorth Managed Duration Municipal Income Fund II, Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +9.6% |
| 5-year return | -10.2% | +12.2% |
| Volatility (ann.) | 11.5% | 13.3% |
| Beta vs S&P 500 | 0.27 | 0.29 |
| Max drawdown (3Y) | -14.7% | -15.3% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 33.5 | 185.9 |
| Dividend yield | 6.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | RMMZ |
|---|---|---|
| 2022 | -31.0% | – |
| 2023 | +9.7% | +11.2% |
| 2024 | +6.3% | +2.7% |
| 2025 | +1.8% | +5.0% |
| 2026 | +3.2% | +7.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and RMMZ good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MPA and RMMZ?
As of 2026-08-27, the correlation of weekly returns between MPA and RMMZ is 0.64 over 3 years, 0.58 over 1 year and 0.52 over 5 years.
Is RMMZ a good diversifier for MPA?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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-rmmz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mpa-vs-rmmz/)
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Related comparisons
Hubs: MPA correlations · RMMZ correlations
