MQY vs VXX: Correlation
How closely do Blackrock MuniYield Quality Fund, Inc. (MQY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MQY and VXX?
On 3 years of weekly data the MQY/VXX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.30). The 5-year figure is -0.32, and annualized covariance runs at -238.1 %².
Among the 27 assets we track against MQY, VXX sits near the bottom by co-movement, at rank #26. Correlation aside, the last 12 months split them widely, with MQY ahead by 57.7 points (+8.0% versus -49.7%). Risk is not evenly split, since VXX carries 4.8 times the volatility of the other side.
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 VXX: side by side
| MQY (Blackrock MuniYield Quality Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.0% | -49.7% |
| 5-year return | -13.1% | -95.6% |
| Volatility (ann.) | 12.8% | 60.9% |
| Beta vs S&P 500 | 0.33 | -3.31 |
| Max drawdown (3Y) | -17.0% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 6.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MQY | VXX |
|---|---|---|
| 2022 | -24.2% | -23.8% |
| 2023 | +10.2% | -72.5% |
| 2024 | -0.1% | -26.2% |
| 2025 | +4.3% | -42.2% |
| 2026 | +2.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MQY and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between MQY and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.41 over the last year and -0.32 over 5 years.
Is VXX a good diversifier for MQY?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mqy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MQY correlations · VXX correlations
