MQY vs MYN: Correlation
Blackrock MuniYield Quality Fund, Inc. (MQY) and Blackrock MuniYield New York Quality Fund, Inc. (MYN) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and MYN?
Over the past 3 years, MQY and MYN moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 115.2 %².
Among the 27 assets we track against MQY, MYN ranks #6 by 3-year correlation. Their 12-month results are close: +8.0% for MQY against +11.6% for MYN.
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 MYN: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | MYN (Blackrock MuniYield New York Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | +11.6% |
| 5-year return | -13.1% | -12.0% |
| Volatility (ann.) | 12.8% | 10.7% |
| Beta vs S&P 500 | 0.33 | 0.24 |
| Max drawdown (3Y) | -17.0% | -11.2% |
| Market cap | $0.8B | $0.4B |
| P/E (trailing) | 35.8 | 60.9 |
| Dividend yield | 6.25% | 6.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | MYN |
|---|---|---|
| 2022 | -24.2% | -27.0% |
| 2023 | +10.2% | +9.9% |
| 2024 | -0.1% | +2.8% |
| 2025 | +4.3% | +4.6% |
| 2026 | +2.4% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and MYN good diversifiers for each other?
No. With a correlation of 0.84, MQY and MYN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MQY and MYN?
As of 2026-08-27, the correlation of weekly returns between MQY and MYN is 0.84 over 3 years, 0.78 over 1 year and 0.82 over 5 years.
Is MYN a good diversifier for MQY?
No. With a correlation of 0.84, MQY and MYN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 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.
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Related comparisons
Hubs: MQY correlations · MYN correlations
