ATMP vs MLPB: Correlation
How closely do iPath Select MLP ETN (ATMP) and ETRACS Alerian MLP Infrastructure Index ETN Series B due (MLPB) trade together? Their weekly returns over three years give a correlation of 0.95, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and MLPB?
On 3 years of weekly data the ATMP/MLPB correlation comes out at 0.95, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.94) sits close to the 3-year figure. The 5-year figure is 0.95, and annualized covariance runs at 265.8 %².
MLPB is one of the assets that tracks ATMP most closely: it ranks #1 out of the 37 assets we track against ATMP. The trailing year gives ATMP the advantage: +34.4% versus +29.4%, a 5.0-point spread.
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 MLPB: side by side
| ATMP (iPath Select MLP ETN) | MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B due) | |
|---|---|---|
| 1-year return | +34.4% | +29.4% |
| 5-year return | +216.1% | +186.2% |
| Volatility (ann.) | 17.0% | 16.5% |
| Beta vs S&P 500 | 0.28 | 0.32 |
| Max drawdown (3Y) | -15.6% | -16.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | MLPB |
|---|---|---|
| 2022 | +27.5% | +30.2% |
| 2023 | +21.6% | +22.0% |
| 2024 | +38.7% | +25.5% |
| 2025 | +7.0% | +7.4% |
| 2026 | +32.0% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and MLPB good diversifiers for each other?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ATMP and MLPB?
The ATMP/MLPB correlation stands at 0.95 on a 3-year window (1 year: 0.94, 5 years: 0.95), computed from weekly returns as of 2026-08-27.
Is MLPB a good diversifier for ATMP?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.95 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atmp-vs-mlpb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atmp-vs-mlpb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATMP correlations · MLPB correlations
