AMUB vs SPY: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and SPY?
On 3 years of weekly data the AMUB/SPY correlation comes out at 0.28, weak. The past 12 months show a weaker link (-0.24) than the 3-year average (0.28). The 5-year figure is 0.39, and annualized covariance runs at 65.8 %².
Out of 20 assets tracked against AMUB, SPY lands near the bottom at #16. On 12-month performance AMUB holds a 10.3-point edge, +30.9% against +20.6%.
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 SPY: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +30.9% | +20.6% |
| 5-year return | +191.0% | +82.4% |
| Volatility (ann.) | 16.5% | 14.5% |
| Beta vs S&P 500 | 0.31 | 1.00 |
| Max drawdown (3Y) | -17.0% | -18.8% |
| Dividend yield | – | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | AMUB | SPY |
|---|---|---|
| 2022 | +29.9% | -18.2% |
| 2023 | +25.4% | +26.2% |
| 2024 | +23.0% | +24.9% |
| 2025 | +8.7% | +17.7% |
| 2026 | +29.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMUB and SPY?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with -0.24 over the last year and 0.39 over 5 years.
Is SPY a good diversifier for AMUB?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AMUB correlations · SPY correlations
