DMB vs NAD: Correlation
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and Nuveen Quality Municipal Income Fund (NAD) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMB and NAD?
On 3 years of weekly data the DMB/NAD correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 116.9 %².
Among the 21 assets we track against DMB, NAD ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +11.0% for DMB and +12.1% for NAD.
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 NAD: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | NAD (Nuveen Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | +11.0% | +12.1% |
| 5-year return | -15.7% | -2.4% |
| Volatility (ann.) | 12.4% | 11.0% |
| Beta vs S&P 500 | 0.26 | 0.27 |
| Max drawdown (3Y) | -14.7% | -11.7% |
| Market cap | $0.2B | $2.7B |
| P/E (trailing) | 34.1 | 14.9 |
| Dividend yield | 4.32% | 7.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | NAD |
|---|---|---|
| 2022 | -23.5% | -22.8% |
| 2023 | +2.4% | +1.3% |
| 2024 | +3.9% | +8.8% |
| 2025 | +10.7% | +11.4% |
| 2026 | -0.5% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and NAD good diversifiers for each other?
No. With a correlation of 0.85, DMB and NAD move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between DMB and NAD?
As of 2026-08-27, the correlation of weekly returns between DMB and NAD is 0.85 over 3 years, 0.82 over 1 year and 0.61 over 5 years.
Is NAD a good diversifier for DMB?
No. With a correlation of 0.85, DMB and NAD move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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-nad.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dmb-vs-nad/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DMB correlations · NAD correlations
