MQY vs MUJ: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Quality Fund, Inc. (MQY) and Blackrock MuniHoldings New Jersey Quality Fund, Inc. (MUJ) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and MUJ?
On 3 years of weekly data the MQY/MUJ correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.71 versus 0.82 over 3 years. The 5-year figure is 0.79, and annualized covariance runs at 109.6 %².
Among the 27 assets we track against MQY, MUJ ranks #10 by 3-year correlation. On 12-month performance MUJ holds a 7.1-point edge, +8.0% against +15.1%.
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 MUJ: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | MUJ (Blackrock MuniHoldings New Jersey Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | +15.1% |
| 5-year return | -13.1% | -1.3% |
| Volatility (ann.) | 12.8% | 10.5% |
| Beta vs S&P 500 | 0.33 | 0.31 |
| Max drawdown (3Y) | -17.0% | -9.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | 26.9 |
| Dividend yield | 6.25% | 5.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | MUJ |
|---|---|---|
| 2022 | -24.2% | -26.3% |
| 2023 | +10.2% | +7.6% |
| 2024 | -0.1% | +2.3% |
| 2025 | +4.3% | +13.9% |
| 2026 | +2.4% | +5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and MUJ good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MQY and MUJ?
As of 2026-08-27, the correlation of weekly returns between MQY and MUJ is 0.82 over 3 years, 0.71 over 1 year and 0.79 over 5 years.
Is MUJ a good diversifier for MQY?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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-muj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mqy-vs-muj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MQY correlations · MUJ correlations
