MQY vs MUA: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Quality Fund, Inc. (MQY) and Blackrock MuniAssets Fund, Inc (MUA) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and MUA?
Over the past 3 years, MQY and MUA moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 141.0 %².
Within MQY's tracked universe of 27 assets, MUA comes in at #18 by 3-year correlation. The trailing year gives MQY the advantage: +8.0% versus +0.3%, a 7.7-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.
MQY vs MUA: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | MUA (Blackrock MuniAssets Fund, Inc) | |
|---|---|---|
| 1-year return | +8.0% | +0.3% |
| 5-year return | -13.1% | -17.1% |
| Volatility (ann.) | 12.8% | 14.9% |
| Beta vs S&P 500 | 0.33 | 0.36 |
| Max drawdown (3Y) | -17.0% | -20.0% |
| Market cap | $0.8B | $0.7B |
| P/E (trailing) | 35.8 | 32.2 |
| Dividend yield | 6.25% | 6.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | MUA |
|---|---|---|
| 2022 | -24.2% | -22.4% |
| 2023 | +10.2% | +3.0% |
| 2024 | -0.1% | +10.5% |
| 2025 | +4.3% | +3.3% |
| 2026 | +2.4% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and MUA good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MQY and MUA?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.68 over the last year and 0.71 over 5 years.
Is MUA a good diversifier for MQY?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 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/mqy-vs-mua.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mqy-vs-mua/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MQY correlations · MUA correlations
