AMUB vs SPH: Correlation
How closely do ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Suburban Propane Partners, L.P. (SPH) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and SPH?
Across a 3-year window, the weekly returns of AMUB and SPH correlate at 0.54, moderate. The link has tightened recently: the 1-year correlation (0.71) runs above the 3-year figure (0.54). Stretching to 5 years gives 0.57, with an annualized covariance of 225.3 %².
Among the 20 assets we track against AMUB, SPH ranks #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMUB ahead by 30.2 points (+30.9% versus +0.7%). One caveat on sizing: SPH is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SPH: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | SPH (Suburban Propane Partners, L.P.) | |
|---|---|---|
| 1-year return | +30.9% | +0.7% |
| 5-year return | +191.0% | +66.9% |
| Volatility (ann.) | 16.5% | 25.4% |
| Beta vs S&P 500 | 0.31 | 0.23 |
| Max drawdown (3Y) | -17.0% | -20.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | – | 7.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | SPH |
|---|---|---|
| 2022 | +29.9% | +12.3% |
| 2023 | +25.4% | +27.0% |
| 2024 | +23.0% | +3.8% |
| 2025 | +8.7% | +15.2% |
| 2026 | +29.6% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and SPH good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMUB and SPH?
As of 2026-08-27, the correlation of weekly returns between AMUB and SPH is 0.54 over 3 years, 0.71 over 1 year and 0.57 over 5 years.
Is SPH a good diversifier for AMUB?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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-sph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amub-vs-sph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMUB correlations · SPH correlations
