DMB vs DSM: Correlation
Measured on weekly returns over the past three years, BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) carry a correlation of 0.89, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMB and DSM?
Over the past 3 years, DMB and DSM moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.89 over 3. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 137.8 %².
In DMB's tracked universe of 21 assets, DSM sits right near the top at #1. Neither side won the trailing year by much: +11.0% against +8.6%.
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.
DMB vs DSM: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | |
|---|---|---|
| 1-year return | +11.0% | +8.6% |
| 5-year return | -15.7% | -13.5% |
| Volatility (ann.) | 12.4% | 12.4% |
| Beta vs S&P 500 | 0.26 | 0.29 |
| Max drawdown (3Y) | -14.7% | -13.4% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | 34.1 | 9.2 |
| Dividend yield | 4.32% | 4.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | DSM |
|---|---|---|
| 2022 | -23.5% | -27.0% |
| 2023 | +2.4% | +3.2% |
| 2024 | +3.9% | +5.5% |
| 2025 | +10.7% | +10.9% |
| 2026 | -0.5% | -2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and DSM good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DMB and DSM?
The DMB/DSM correlation stands at 0.89 on a 3-year window (1 year: 0.87, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is DSM a good diversifier for DMB?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
A reading of 0.89 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/dmb-vs-dsm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dmb-vs-dsm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMB correlations · DSM correlations
