MUJ vs MYN: Correlation
How closely do Blackrock MuniHoldings New Jersey Quality Fund, Inc. (MUJ) and Blackrock MuniYield New York Quality Fund, Inc. (MYN) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUJ and MYN?
Over the past 3 years, MUJ and MYN moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.71 versus 0.84 over 3 years. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 93.3 %².
In MUJ's tracked universe of 13 assets, MYN sits right near the top at #1. Twelve-month performance is nearly a tie, at +15.1% for MUJ and +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.
MUJ vs MYN: side by side
| MUJ (Blackrock MuniHoldings New Jersey Quality Fund, Inc.) | MYN (Blackrock MuniYield New York Quality Fund, Inc.) | |
|---|---|---|
| 1-year return | +15.1% | +11.6% |
| 5-year return | -1.3% | -12.0% |
| Volatility (ann.) | 10.5% | 10.7% |
| Beta vs S&P 500 | 0.31 | 0.24 |
| Max drawdown (3Y) | -9.8% | -11.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | 26.9 | 60.9 |
| Dividend yield | 5.30% | 6.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MUJ | MYN |
|---|---|---|
| 2022 | -26.3% | -27.0% |
| 2023 | +7.6% | +9.9% |
| 2024 | +2.3% | +2.8% |
| 2025 | +13.9% | +4.6% |
| 2026 | +5.3% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUJ and MYN good diversifiers for each other?
No. With a correlation of 0.84, MUJ and MYN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MUJ and MYN?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.71 over the last year and 0.76 over 5 years.
Is MYN a good diversifier for MUJ?
No. With a correlation of 0.84, MUJ 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/muj-vs-myn.json
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Related comparisons
Hubs: MUJ correlations · MYN correlations
