AM vs NML: Correlation
Measured on weekly returns over the past three years, Antero Midstream Corporation (AM) and Neuberger Energy Infrastructure and Income Fund Inc. (NML) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AM and NML?
Across a 3-year window, the weekly returns of AM and NML correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 327.0 %².
Among the 15 assets we track against AM, NML ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +33.1% for AM and +30.7% for NML.
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.
AM vs NML: side by side
| AM (Antero Midstream Corporation) | NML (Neuberger Energy Infrastructure and Income Fund Inc.) | |
|---|---|---|
| 1-year return | +33.1% | +30.7% |
| 5-year return | +230.4% | +220.1% |
| Volatility (ann.) | 22.6% | 21.3% |
| Beta vs S&P 500 | 0.24 | 0.35 |
| Max drawdown (3Y) | -14.0% | -16.9% |
| Market cap | $10.7B | $0.6B |
| P/E (trailing) | 27.1 | 4.3 |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AM | NML |
|---|---|---|
| 2022 | +22.0% | +32.8% |
| 2023 | +25.7% | +14.5% |
| 2024 | +28.5% | +40.5% |
| 2025 | +24.4% | +4.3% |
| 2026 | +30.9% | +29.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AM and NML good diversifiers for each other?
Only partially. A correlation of 0.68 means AM and NML 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 AM and NML?
As of 2026-08-27, the correlation of weekly returns between AM and NML is 0.68 over 3 years, 0.68 over 1 year and 0.75 over 5 years.
Is NML a good diversifier for AM?
Only partially. A correlation of 0.68 means AM and NML share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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/am-vs-nml.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/am-vs-nml/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AM correlations · NML correlations
