DMB vs MFM: Correlation
How closely do BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and Aberdeen Municipal Income Fund (MFM) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMB and MFM?
Across a 3-year window, the weekly returns of DMB and MFM correlate at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 129.8 %².
By 3-year correlation, MFM places #9 of the 21 assets tracked against DMB. Their 12-month results are close: +11.0% for DMB against +11.2% for MFM.
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 MFM: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | MFM (Aberdeen Municipal Income Fund) | |
|---|---|---|
| 1-year return | +11.0% | +11.2% |
| 5-year return | -15.7% | -4.9% |
| Volatility (ann.) | 12.4% | 12.8% |
| Beta vs S&P 500 | 0.26 | 0.28 |
| Max drawdown (3Y) | -14.7% | -11.7% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 34.1 | 13.1 |
| Dividend yield | 4.32% | 5.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | MFM |
|---|---|---|
| 2022 | -23.5% | -22.6% |
| 2023 | +2.4% | +4.2% |
| 2024 | +3.9% | +8.5% |
| 2025 | +10.7% | +7.0% |
| 2026 | -0.5% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and MFM good diversifiers for each other?
No. With a correlation of 0.82, DMB and MFM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between DMB and MFM?
As of 2026-08-27, the correlation of weekly returns between DMB and MFM is 0.82 over 3 years, 0.79 over 1 year and 0.55 over 5 years.
Is MFM a good diversifier for DMB?
No. With a correlation of 0.82, DMB and MFM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 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-mfm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dmb-vs-mfm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMB correlations · MFM correlations
