DMB vs PML: Correlation
Measured on weekly returns over the past three years, BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and Pimco Municipal Income Fund II (PML) 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 PML?
Across a 3-year window, the weekly returns of DMB and PML correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.81 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 147.9 %².
Within DMB's tracked universe of 21 assets, PML comes in at #11 by 3-year correlation. Twelve-month performance is nearly a tie, at +11.0% for DMB and +8.7% for PML.
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 PML: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | PML (Pimco Municipal Income Fund II) | |
|---|---|---|
| 1-year return | +11.0% | +8.7% |
| 5-year return | -15.7% | -34.6% |
| Volatility (ann.) | 12.4% | 14.5% |
| Beta vs S&P 500 | 0.26 | 0.30 |
| Max drawdown (3Y) | -14.7% | -21.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | 34.1 | 735.0 |
| Dividend yield | 4.32% | 6.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | PML |
|---|---|---|
| 2022 | -23.5% | -34.1% |
| 2023 | +2.4% | -3.0% |
| 2024 | +3.9% | +3.0% |
| 2025 | +10.7% | -0.8% |
| 2026 | -0.5% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and PML 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 PML?
The DMB/PML correlation stands at 0.82 on a 3-year window (1 year: 0.81, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is PML 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?
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-pml.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dmb-vs-pml/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DMB correlations · PML correlations
