MYN vs VXZ: Correlation
Blackrock MuniYield New York Quality Fund, Inc. (MYN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYN and VXZ?
On 3 years of weekly data the MYN/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -91.1 %².
VXZ is close to the least connected end of MYN's tracked universe, ranking #15 of 15. Their recent paths diverged sharply: over the last 12 months MYN outperformed by 27.7 percentage points (+11.6% for MYN against -16.1% for VXZ). Risk is not evenly split, since VXZ carries 2.4 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.
MYN vs VXZ: side by side
| MYN (Blackrock MuniYield New York Quality Fund, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.6% | -16.1% |
| 5-year return | -12.0% | -53.1% |
| Volatility (ann.) | 10.7% | 25.6% |
| Beta vs S&P 500 | 0.24 | -1.31 |
| Max drawdown (3Y) | -11.2% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 6.30% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MYN | VXZ |
|---|---|---|
| 2022 | -27.0% | +0.5% |
| 2023 | +9.9% | -44.0% |
| 2024 | +2.8% | -12.7% |
| 2025 | +4.6% | +5.7% |
| 2026 | +2.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYN and VXZ good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MYN and VXZ?
The MYN/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.40, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MYN?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/myn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/myn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MYN correlations · VXZ correlations
