VKI vs VKQ: Correlation
Invesco Advantage Municipal Income Trust II (VKI) and Invesco Municipal Trust (VKQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VKI and VKQ?
Across a 3-year window, the weekly returns of VKI and VKQ correlate at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Stretching to 5 years gives 0.86, with an annualized covariance of 141.2 %².
In VKI's tracked universe of 17 assets, VKQ sits right near the top at #3. Their 12-month results are close: +15.7% for VKI against +15.9% for VKQ.
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.
VKI vs VKQ: side by side
| VKI (Invesco Advantage Municipal Income Trust II) | VKQ (Invesco Municipal Trust) | |
|---|---|---|
| 1-year return | +15.7% | +15.9% |
| 5-year return | -5.1% | -4.8% |
| Volatility (ann.) | 13.9% | 11.7% |
| Beta vs S&P 500 | 0.32 | 0.30 |
| Max drawdown (3Y) | -12.4% | -11.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | 35.6 | 32.7 |
| Dividend yield | 7.50% | 7.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VKI | VKQ |
|---|---|---|
| 2022 | -25.5% | -22.3% |
| 2023 | +3.1% | +0.9% |
| 2024 | +10.2% | +9.7% |
| 2025 | +12.8% | +6.5% |
| 2026 | +2.5% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VKI and VKQ good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between VKI and VKQ?
The VKI/VKQ correlation stands at 0.87 on a 3-year window (1 year: 0.78, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is VKQ a good diversifier for VKI?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 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/vki-vs-vkq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vki-vs-vkq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VKI correlations · VKQ correlations
