MYI vs PML: Correlation
Measured on weekly returns over the past three years, Blackrock MuniYield Quality Fund III, Inc (MYI) and Pimco Municipal Income Fund II (PML) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYI and PML?
Over the past 3 years, MYI and PML moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.82 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 140.5 %².
Among the 15 assets we track against MYI, PML ranks #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +8.7% for MYI and +8.7% for PML.
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.
MYI vs PML: side by side
| MYI (Blackrock MuniYield Quality Fund III, Inc) | PML (Pimco Municipal Income Fund II) | |
|---|---|---|
| 1-year return | +8.7% | +8.7% |
| 5-year return | -5.8% | -34.6% |
| Volatility (ann.) | 11.8% | 14.5% |
| Beta vs S&P 500 | 0.30 | 0.30 |
| Max drawdown (3Y) | -11.8% | -21.5% |
| Market cap | – | – |
| P/E (trailing) | 28.3 | 735.0 |
| Dividend yield | 6.20% | 6.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MYI | PML |
|---|---|---|
| 2022 | -20.5% | -34.1% |
| 2023 | +8.8% | -3.0% |
| 2024 | +0.6% | +3.0% |
| 2025 | +4.8% | -0.8% |
| 2026 | +3.2% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYI and PML good diversifiers for each other?
No: a correlation of 0.82 means MYI and PML tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MYI and PML?
The MYI/PML correlation stands at 0.82 on a 3-year window (1 year: 0.79, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is PML a good diversifier for MYI?
No: a correlation of 0.82 means MYI and PML tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/myi-vs-pml.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/myi-vs-pml/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MYI correlations · PML correlations
