DSM vs SBI: Correlation
BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and Western Asset Intermediate Muni Fund Inc (SBI) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and SBI?
Across a 3-year window, the weekly returns of DSM and SBI correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 79.0 %².
Within DSM's tracked universe of 18 assets, SBI comes in at #9 by 3-year correlation. Neither side won the trailing year by much: +8.6% against +6.3%. Risk is not evenly split, since DSM carries 1.6 times the volatility of the other side.
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 SBI: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | SBI (Western Asset Intermediate Muni Fund Inc) | |
|---|---|---|
| 1-year return | +8.6% | +6.3% |
| 5-year return | -13.5% | +0.9% |
| Volatility (ann.) | 12.4% | 7.9% |
| Beta vs S&P 500 | 0.29 | 0.19 |
| Max drawdown (3Y) | -13.4% | -7.9% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 9.2 | 12.5 |
| Dividend yield | 4.94% | 3.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | SBI |
|---|---|---|
| 2022 | -27.0% | -18.4% |
| 2023 | +3.2% | +5.4% |
| 2024 | +5.5% | +6.8% |
| 2025 | +10.9% | +5.9% |
| 2026 | -2.4% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and SBI good diversifiers for each other?
No: a correlation of 0.80 means DSM and SBI tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DSM and SBI?
As of 2026-08-27, the correlation of weekly returns between DSM and SBI is 0.80 over 3 years, 0.80 over 1 year and 0.74 over 5 years.
Is SBI a good diversifier for DSM?
No: a correlation of 0.80 means DSM and SBI tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DSM correlations · SBI correlations
