ATMP vs EXE: Correlation
How closely do iPath Select MLP ETN (ATMP) and Expand Energy (EXE) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and EXE?
On 3 years of weekly data the ATMP/EXE correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 271.9 %².
By 3-year correlation, EXE places #22 of the 37 assets tracked against ATMP. Their recent paths diverged sharply: over the last 12 months ATMP outperformed by 29.2 percentage points (+34.4% for ATMP against +5.2% for EXE). Note the risk asymmetry: EXE runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ATMP vs EXE: side by side
| ATMP (iPath Select MLP ETN) | EXE (Expand Energy) | |
|---|---|---|
| 1-year return | +34.4% | +5.2% |
| 5-year return | +216.1% | +125.8% |
| Volatility (ann.) | 17.0% | 28.2% |
| Beta vs S&P 500 | 0.28 | 0.31 |
| Max drawdown (3Y) | -15.6% | -28.4% |
| Market cap | – | $22.7B |
| P/E (trailing) | – | 8.3 |
| Dividend yield | 0.00% | 3.30% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ATMP | EXE |
|---|---|---|
| 2022 | +27.5% | +62.3% |
| 2023 | +21.6% | -14.8% |
| 2024 | +38.7% | +33.2% |
| 2025 | +7.0% | +14.4% |
| 2026 | +32.0% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and EXE good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATMP and EXE?
As of 2026-08-27, the correlation of weekly returns between ATMP and EXE is 0.57 over 3 years, 0.47 over 1 year and 0.64 over 5 years.
Is EXE a good diversifier for ATMP?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/atmp-vs-exe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atmp-vs-exe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATMP correlations · EXE correlations
