AMUB vs NML: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Neuberger Energy Infrastructure and Income Fund Inc. (NML) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and NML?
Over the past 3 years, AMUB and NML moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 293.6 %².
Few assets follow AMUB as closely as NML, which ranks #3 of 20 tracked partners. Neither side won the trailing year by much: +30.9% against +30.7%.
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.
AMUB vs NML: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | NML (Neuberger Energy Infrastructure and Income Fund Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +30.7% |
| 5-year return | +191.0% | +220.1% |
| Volatility (ann.) | 16.5% | 21.3% |
| Beta vs S&P 500 | 0.31 | 0.35 |
| Max drawdown (3Y) | -17.0% | -16.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 4.3 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | NML |
|---|---|---|
| 2022 | +29.9% | +32.8% |
| 2023 | +25.4% | +14.5% |
| 2024 | +23.0% | +40.5% |
| 2025 | +8.7% | +4.3% |
| 2026 | +29.6% | +29.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and NML good diversifiers for each other?
No: a correlation of 0.84 means AMUB and NML tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AMUB and NML?
As of 2026-08-27, the correlation of weekly returns between AMUB and NML is 0.84 over 3 years, 0.81 over 1 year and 0.87 over 5 years.
Is NML a good diversifier for AMUB?
No: a correlation of 0.84 means AMUB and NML tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amub-vs-nml.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amub-vs-nml/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMUB correlations · NML correlations
