Prior studies have documented linkages between mental disorder and both offending and victimization. However, few studies have examined the violent offending-violent victimization overlap among mentally disordered individuals and none have examined the factors that are jointly related to their covariation. Here, we assess this overlap during the first ten weeks following hospital discharge among a large sample of psychiatric patients from three large cities. Findings indicate that: (1) violent offending and violent victimization show substantial covariation; (2) although each of the two outcomes were predicted by a few unique risk factors, several risk factors were similarly predictive of both outcomes; and (3) even after adjusting for demographic, clinical, and social risk factors, the correlation between violent offending and violent victimization remained robust. Implications for theory, research, and policy are highlighted.