DMB vs MMU: Correlation
Measured on weekly returns over the past three years, BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and Western Asset Managed Municipals Fund, Inc. (MMU) 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 DMB and MMU?
On 3 years of weekly data the DMB/MMU correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 114.9 %².
Among the 21 assets we track against DMB, MMU ranks #10 by 3-year correlation. Neither side won the trailing year by much: +11.0% against +9.2%.
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 MMU: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | MMU (Western Asset Managed Municipals Fund, Inc.) | |
|---|---|---|
| 1-year return | +11.0% | +9.2% |
| 5-year return | -15.7% | -2.0% |
| Volatility (ann.) | 12.4% | 11.3% |
| Beta vs S&P 500 | 0.26 | 0.27 |
| Max drawdown (3Y) | -14.7% | -9.5% |
| Market cap | $0.2B | $0.6B |
| P/E (trailing) | 34.1 | 10.7 |
| Dividend yield | 4.32% | 6.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | MMU |
|---|---|---|
| 2022 | -23.5% | -19.6% |
| 2023 | +2.4% | +5.7% |
| 2024 | +3.9% | +6.6% |
| 2025 | +10.7% | +9.3% |
| 2026 | -0.5% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and MMU good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DMB and MMU?
The DMB/MMU correlation stands at 0.82 on a 3-year window (1 year: 0.81, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is MMU a good diversifier for DMB?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
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/dmb-vs-mmu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dmb-vs-mmu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DMB correlations · MMU correlations
