DSM vs NXP: Correlation
Measured on weekly returns over the past three years, BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and Nuveen Select Tax Free Income Portfolio (NXP) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and NXP?
On 3 years of weekly data the DSM/NXP correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 71.5 %².
Within DSM's tracked universe of 18 assets, NXP comes in at #12 by 3-year correlation. Neither side won the trailing year by much: +8.6% against +6.3%.
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 NXP: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | NXP (Nuveen Select Tax Free Income Portfolio) | |
|---|---|---|
| 1-year return | +8.6% | +6.3% |
| 5-year return | -13.5% | +0.3% |
| Volatility (ann.) | 12.4% | 9.1% |
| Beta vs S&P 500 | 0.29 | 0.11 |
| Max drawdown (3Y) | -13.4% | -9.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.2 | 24.9 |
| Dividend yield | 4.94% | 4.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | NXP |
|---|---|---|
| 2022 | -27.0% | -9.5% |
| 2023 | +3.2% | +10.7% |
| 2024 | +5.5% | +6.9% |
| 2025 | +10.9% | -2.7% |
| 2026 | -2.4% | +3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and NXP good diversifiers for each other?
Only partially. A correlation of 0.63 means DSM and NXP 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 NXP?
The DSM/NXP correlation stands at 0.63 on a 3-year window (1 year: 0.54, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is NXP a good diversifier for DSM?
Only partially. A correlation of 0.63 means DSM and NXP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 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-nxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dsm-vs-nxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSM correlations · NXP correlations
