DMB vs NBH: Correlation
Measured on weekly returns over the past three years, BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and Neuberger Municipal Fund Inc. (NBH) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMB and NBH?
On 3 years of weekly data the DMB/NBH correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 119.3 %².
Within DMB's tracked universe of 21 assets, NBH comes in at #7 by 3-year correlation. Neither side won the trailing year by much: +11.0% against +10.2%.
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 NBH: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | NBH (Neuberger Municipal Fund Inc.) | |
|---|---|---|
| 1-year return | +11.0% | +10.2% |
| 5-year return | -15.7% | -21.0% |
| Volatility (ann.) | 12.4% | 11.4% |
| Beta vs S&P 500 | 0.26 | 0.30 |
| Max drawdown (3Y) | -14.7% | -11.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | 34.1 | 14.6 |
| Dividend yield | 4.32% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | NBH |
|---|---|---|
| 2022 | -23.5% | -28.2% |
| 2023 | +2.4% | +4.0% |
| 2024 | +3.9% | +5.3% |
| 2025 | +10.7% | +4.2% |
| 2026 | -0.5% | +4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and NBH good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DMB and NBH?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.79 over the last year and 0.56 over 5 years.
Is NBH a good diversifier for DMB?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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-nbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dmb-vs-nbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMB correlations · NBH correlations
