DSM vs MFM: Correlation
BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and Aberdeen Municipal Income Fund (MFM) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and MFM?
Over the past 3 years, DSM and MFM moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 131.2 %².
By 3-year correlation, MFM places #7 of the 18 assets tracked against DSM. Neither side won the trailing year by much: +8.6% against +11.2%.
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.
DSM vs MFM: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | MFM (Aberdeen Municipal Income Fund) | |
|---|---|---|
| 1-year return | +8.6% | +11.2% |
| 5-year return | -13.5% | -4.9% |
| Volatility (ann.) | 12.4% | 12.8% |
| Beta vs S&P 500 | 0.29 | 0.28 |
| Max drawdown (3Y) | -13.4% | -11.7% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 9.2 | 13.1 |
| Dividend yield | 4.94% | 5.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | MFM |
|---|---|---|
| 2022 | -27.0% | -22.6% |
| 2023 | +3.2% | +4.2% |
| 2024 | +5.5% | +8.5% |
| 2025 | +10.9% | +7.0% |
| 2026 | -2.4% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and MFM good diversifiers for each other?
No: a correlation of 0.83 means DSM and MFM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DSM and MFM?
The DSM/MFM correlation stands at 0.83 on a 3-year window (1 year: 0.78, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is MFM a good diversifier for DSM?
No: a correlation of 0.83 means DSM and MFM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dsm-vs-mfm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dsm-vs-mfm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSM correlations · MFM correlations
