DSM vs NBH: Correlation
Measured on weekly returns over the past three years, BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and Neuberger Municipal Fund Inc. (NBH) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and NBH?
Across a 3-year window, the weekly returns of DSM and NBH correlate at 0.85, very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.73 versus 0.85 over 3 years. Stretching to 5 years gives 0.75, with an annualized covariance of 120.5 %².
By 3-year correlation, NBH places #5 of the 18 assets tracked against DSM. Neither side won the trailing year by much: +8.6% 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.
DSM vs NBH: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | NBH (Neuberger Municipal Fund Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +10.2% |
| 5-year return | -13.5% | -21.0% |
| Volatility (ann.) | 12.4% | 11.4% |
| Beta vs S&P 500 | 0.29 | 0.30 |
| Max drawdown (3Y) | -13.4% | -11.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.2 | 14.6 |
| Dividend yield | 4.94% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | NBH |
|---|---|---|
| 2022 | -27.0% | -28.2% |
| 2023 | +3.2% | +4.0% |
| 2024 | +5.5% | +5.3% |
| 2025 | +10.9% | +4.2% |
| 2026 | -2.4% | +4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and NBH good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DSM and NBH?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.73 over the last year and 0.75 over 5 years.
Is NBH a good diversifier for DSM?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
A reading of 0.85 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/dsm-vs-nbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dsm-vs-nbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSM correlations · NBH correlations
