AMUB vs OKE: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Oneok (OKE) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and OKE?
Across a 3-year window, the weekly returns of AMUB and OKE correlate at 0.73, strong. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 346.1 %².
By 3-year correlation, OKE places #9 of the 20 assets tracked against AMUB. Twelve-month performance is nearly a tie, at +30.9% for AMUB and +33.0% for OKE. Risk is not evenly split, since OKE carries 1.7 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.
AMUB vs OKE: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +30.9% | +33.0% |
| 5-year return | +191.0% | +134.0% |
| Volatility (ann.) | 16.5% | 28.7% |
| Beta vs S&P 500 | 0.31 | 0.42 |
| Max drawdown (3Y) | -17.0% | -42.2% |
| Market cap | – | $59.7B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | – | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | AMUB | OKE |
|---|---|---|
| 2022 | +29.9% | +18.9% |
| 2023 | +25.4% | +13.2% |
| 2024 | +23.0% | +50.1% |
| 2025 | +8.7% | -22.9% |
| 2026 | +29.6% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and OKE good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMUB and OKE?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.80 over the last year and 0.76 over 5 years.
Is OKE a good diversifier for AMUB?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amub-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMUB correlations · OKE correlations
