MQY vs MYI: Correlation
How closely do Blackrock MuniYield Quality Fund, Inc. (MQY) and Blackrock MuniYield Quality Fund III, Inc (MYI) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and MYI?
On 3 years of weekly data the MQY/MYI correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 129.6 %².
By 3-year correlation, MYI places #5 of the 27 assets tracked against MQY. Twelve-month performance is nearly a tie, at +8.0% for MQY and +8.7% for MYI.
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 MYI: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | MYI (Blackrock MuniYield Quality Fund III, Inc) | |
|---|---|---|
| 1-year return | +8.0% | +8.7% |
| 5-year return | -13.1% | -5.8% |
| Volatility (ann.) | 12.8% | 11.8% |
| Beta vs S&P 500 | 0.33 | 0.30 |
| Max drawdown (3Y) | -17.0% | -11.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | 28.3 |
| Dividend yield | 6.25% | 6.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | MYI |
|---|---|---|
| 2022 | -24.2% | -20.5% |
| 2023 | +10.2% | +8.8% |
| 2024 | -0.1% | +0.6% |
| 2025 | +4.3% | +4.8% |
| 2026 | +2.4% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and MYI 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 MYI?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.85 over the last year and 0.86 over 5 years.
Is MYI 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-myi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mqy-vs-myi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MQY correlations · MYI correlations
