MQY vs MUC: Correlation
Blackrock MuniYield Quality Fund, Inc. (MQY) and Blackrock MuniHoldings California Quality Fund, Inc. (MUC) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and MUC?
Over the past 3 years, MQY and MUC moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 119.9 %².
By 3-year correlation, MUC places #4 of the 27 assets tracked against MQY. Twelve-month performance is nearly a tie, at +8.0% for MQY and +10.9% for MUC.
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 MUC: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | MUC (Blackrock MuniHoldings California Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | +10.9% |
| 5-year return | -13.1% | -13.2% |
| Volatility (ann.) | 12.8% | 10.9% |
| Beta vs S&P 500 | 0.33 | 0.25 |
| Max drawdown (3Y) | -17.0% | -10.7% |
| Market cap | $0.8B | $1.0B |
| P/E (trailing) | 35.8 | 46.3 |
| Dividend yield | 6.25% | 6.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | MUC |
|---|---|---|
| 2022 | -24.2% | -26.8% |
| 2023 | +10.2% | +7.9% |
| 2024 | -0.1% | +0.8% |
| 2025 | +4.3% | +6.0% |
| 2026 | +2.4% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and MUC good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MQY and MUC?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.80 over the last year and 0.82 over 5 years.
Is MUC a good diversifier for MQY?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
A reading of 0.86 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mqy-vs-muc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mqy-vs-muc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MQY correlations · MUC correlations
