MQY vs PML: Correlation
How closely do Blackrock MuniYield Quality Fund, Inc. (MQY) and Pimco Municipal Income Fund II (PML) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and PML?
On 3 years of weekly data the MQY/PML correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.82 over 3. The 5-year figure is 0.82, and annualized covariance runs at 152.9 %².
By 3-year correlation, PML places #11 of the 27 assets tracked against MQY. Neither side won the trailing year by much: +8.0% against +8.7%.
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 PML: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | PML (Pimco Municipal Income Fund II) | |
|---|---|---|
| 1-year return | +8.0% | +8.7% |
| 5-year return | -13.1% | -34.6% |
| Volatility (ann.) | 12.8% | 14.5% |
| Beta vs S&P 500 | 0.33 | 0.30 |
| Max drawdown (3Y) | -17.0% | -21.5% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | 735.0 |
| Dividend yield | 6.25% | 6.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | PML |
|---|---|---|
| 2022 | -24.2% | -34.1% |
| 2023 | +10.2% | -3.0% |
| 2024 | -0.1% | +3.0% |
| 2025 | +4.3% | -0.8% |
| 2026 | +2.4% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and PML 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 PML?
As of 2026-08-27, the correlation of weekly returns between MQY and PML is 0.82 over 3 years, 0.83 over 1 year and 0.82 over 5 years.
Is PML 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-pml.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mqy-vs-pml/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MQY correlations · PML correlations
