MQY vs QQQ: Correlation
Blackrock MuniYield Quality Fund, Inc. (MQY) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and QQQ?
Over the past 3 years, MQY and QQQ moved with a correlation of 0.31, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.31 over 3 years. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 76.6 %².
Out of 27 assets tracked against MQY, QQQ lands near the bottom at #23. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 18.3 percentage points (+8.0% for MQY against +26.3% for QQQ). One caveat on sizing: QQQ is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQ: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.0% | +26.3% |
| 5-year return | -13.1% | +95.4% |
| Volatility (ann.) | 12.8% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -17.0% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 6.25% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | MQY | QQQ |
|---|---|---|
| 2022 | -24.2% | -32.6% |
| 2023 | +10.2% | +54.9% |
| 2024 | -0.1% | +25.6% |
| 2025 | +4.3% | +20.8% |
| 2026 | +2.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MQY and QQQ?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.53 over the last year and 0.39 over 5 years.
Is QQQ a good diversifier for MQY?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mqy-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MQY correlations · QQQ correlations
