DSM vs MUA: Correlation
BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and Blackrock MuniAssets Fund, Inc (MUA) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and MUA?
Across a 3-year window, the weekly returns of DSM and MUA correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 133.9 %².
Among the 18 assets we track against DSM, MUA ranks #11 by 3-year correlation. The trailing year gives DSM the advantage: +8.6% versus +0.3%, a 8.3-point spread.
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 MUA: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | MUA (Blackrock MuniAssets Fund, Inc) | |
|---|---|---|
| 1-year return | +8.6% | +0.3% |
| 5-year return | -13.5% | -17.1% |
| Volatility (ann.) | 12.4% | 14.9% |
| Beta vs S&P 500 | 0.29 | 0.36 |
| Max drawdown (3Y) | -13.4% | -20.0% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | 9.2 | 32.2 |
| Dividend yield | 4.94% | 6.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | MUA |
|---|---|---|
| 2022 | -27.0% | -22.4% |
| 2023 | +3.2% | +3.0% |
| 2024 | +5.5% | +10.5% |
| 2025 | +10.9% | +3.3% |
| 2026 | -2.4% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and MUA good diversifiers for each other?
Only partially. A correlation of 0.72 means DSM and MUA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DSM and MUA?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.69 over the last year and 0.70 over 5 years.
Is MUA a good diversifier for DSM?
Only partially. A correlation of 0.72 means DSM and MUA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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-mua.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: DSM correlations · MUA correlations
