MPA vs RSF: Correlation
How closely do Blackrock MuniYield Pennsylvania Quality Fund (MPA) and RiverNorth Capital and Income Fund (RSF) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and RSF?
On 3 years of weekly data the MPA/RSF correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.42). The 5-year figure is 0.31, and annualized covariance runs at 26.3 %².
Among the 14 assets we track against MPA, RSF ranks #7 by 3-year correlation. Twelve-month performance is nearly a tie, at +8.6% for MPA and +10.1% for RSF. Risk is not evenly split, since MPA carries 2.1 times the volatility of the other side.
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 RSF: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | RSF (RiverNorth Capital and Income Fund) | |
|---|---|---|
| 1-year return | +8.6% | +10.1% |
| 5-year return | -10.2% | +30.6% |
| Volatility (ann.) | 11.5% | 5.4% |
| Beta vs S&P 500 | 0.27 | 0.06 |
| Max drawdown (3Y) | -14.7% | -5.0% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 33.5 | 13.3 |
| Dividend yield | 6.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | RSF |
|---|---|---|
| 2022 | -31.0% | -1.6% |
| 2023 | +9.7% | +3.8% |
| 2024 | +6.3% | +10.6% |
| 2025 | +1.8% | +4.6% |
| 2026 | +3.2% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and RSF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MPA and RSF?
The MPA/RSF correlation stands at 0.42 on a 3-year window (1 year: 0.27, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is RSF a good diversifier for MPA?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MPA correlations · RSF correlations
