MQY vs NCA: Correlation
Blackrock MuniYield Quality Fund, Inc. (MQY) and Nuveen California Municipal Value Fund (NCA) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and NCA?
On 3 years of weekly data the MQY/NCA correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.45 versus 0.63 over 3 years. The 5-year figure is 0.63, and annualized covariance runs at 100.0 %².
Among the 27 assets we track against MQY, NCA ranks #20 by 3-year correlation. Twelve-month performance is nearly a tie, at +8.0% for MQY and +11.5% for NCA.
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 NCA: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | NCA (Nuveen California Municipal Value Fund) | |
|---|---|---|
| 1-year return | +8.0% | +11.5% |
| 5-year return | -13.1% | +2.8% |
| Volatility (ann.) | 12.8% | 12.3% |
| Beta vs S&P 500 | 0.33 | 0.30 |
| Max drawdown (3Y) | -17.0% | -10.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | 25.9 |
| Dividend yield | 6.25% | 3.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | NCA |
|---|---|---|
| 2022 | -24.2% | -13.5% |
| 2023 | +10.2% | +10.4% |
| 2024 | -0.1% | -1.9% |
| 2025 | +4.3% | +10.3% |
| 2026 | +2.4% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and NCA good diversifiers for each other?
To a limited degree. At 0.63 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 NCA?
As of 2026-08-27, the correlation of weekly returns between MQY and NCA is 0.63 over 3 years, 0.45 over 1 year and 0.63 over 5 years.
Is NCA a good diversifier for MQY?
To a limited degree. At 0.63 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 0.63 mean?
A reading of 0.63 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-nca.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mqy-vs-nca/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MQY correlations · NCA correlations
