AMUB vs PAGP: Correlation
ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Plains GP Holdings, L.P. - Class A Shares representing (PAGP) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and PAGP?
Over the past 3 years, AMUB and PAGP 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 0.85 lands near the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 323.6 %².
Within AMUB's tracked universe of 20 assets, PAGP comes in at #4 by 3-year correlation. The last year tells two different stories: PAGP led by 28.0 percentage points, +30.9% for AMUB against +58.9% for PAGP.
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 PAGP: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | PAGP (Plains GP Holdings, L.P. - Class A Shares representing) | |
|---|---|---|
| 1-year return | +30.9% | +58.9% |
| 5-year return | +191.0% | +318.4% |
| Volatility (ann.) | 16.5% | 23.3% |
| Beta vs S&P 500 | 0.31 | 0.25 |
| Max drawdown (3Y) | -17.0% | -21.0% |
| Market cap | – | $6.5B |
| P/E (trailing) | – | 80.1 |
| Dividend yield | – | 5.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | PAGP |
|---|---|---|
| 2022 | +29.9% | +31.8% |
| 2023 | +25.4% | +38.1% |
| 2024 | +23.0% | +23.7% |
| 2025 | +8.7% | +12.7% |
| 2026 | +29.6% | +54.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and PAGP good diversifiers for each other?
No: a correlation of 0.84 means AMUB and PAGP tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AMUB and PAGP?
As of 2026-08-27, the correlation of weekly returns between AMUB and PAGP is 0.84 over 3 years, 0.85 over 1 year and 0.86 over 5 years.
Is PAGP a good diversifier for AMUB?
No: a correlation of 0.84 means AMUB and PAGP tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
A reading of 0.84 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amub-vs-pagp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amub-vs-pagp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMUB correlations · PAGP correlations
