MPA vs VKQ: Correlation
How closely do Blackrock MuniYield Pennsylvania Quality Fund (MPA) and Invesco Municipal Trust (VKQ) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPA and VKQ?
Across a 3-year window, the weekly returns of MPA and VKQ correlate at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.81 over 3. Stretching to 5 years gives 0.70, with an annualized covariance of 109.5 %².
By 3-year correlation, VKQ places #5 of the 14 assets tracked against MPA. The trailing year gives VKQ the advantage: +8.6% versus +15.9%, a 7.3-point spread.
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 VKQ: side by side
| MPA (Blackrock MuniYield Pennsylvania Quality Fund) | VKQ (Invesco Municipal Trust) | |
|---|---|---|
| 1-year return | +8.6% | +15.9% |
| 5-year return | -10.2% | -4.8% |
| Volatility (ann.) | 11.5% | 11.7% |
| Beta vs S&P 500 | 0.27 | 0.30 |
| Max drawdown (3Y) | -14.7% | -11.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | 33.5 | 32.7 |
| Dividend yield | 6.84% | 7.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPA | VKQ |
|---|---|---|
| 2022 | -31.0% | -22.3% |
| 2023 | +9.7% | +0.9% |
| 2024 | +6.3% | +9.7% |
| 2025 | +1.8% | +6.5% |
| 2026 | +3.2% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPA and VKQ good diversifiers for each other?
No: a correlation of 0.81 means MPA and VKQ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MPA and VKQ?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.80 over the last year and 0.70 over 5 years.
Is VKQ a good diversifier for MPA?
No: a correlation of 0.81 means MPA and VKQ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 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
$ curl https://www.pairbook.io/api/v1/pairs/mpa-vs-vkq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mpa-vs-vkq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPA correlations · VKQ correlations
