ATMP vs NFG: Correlation
How closely do iPath Select MLP ETN (ATMP) and National Fuel Gas Company (NFG) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and NFG?
On 3 years of weekly data the ATMP/NFG correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.53 over 3. The 5-year figure is 0.58, and annualized covariance runs at 180.4 %².
Within ATMP's tracked universe of 37 assets, NFG comes in at #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ATMP outperformed by 37.0 percentage points (+34.4% for ATMP against -2.6% for NFG).
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 NFG: side by side
| ATMP (iPath Select MLP ETN) | NFG (National Fuel Gas Company) | |
|---|---|---|
| 1-year return | +34.4% | -2.6% |
| 5-year return | +216.1% | +87.6% |
| Volatility (ann.) | 17.0% | 20.0% |
| Beta vs S&P 500 | 0.28 | 0.10 |
| Max drawdown (3Y) | -15.6% | -20.9% |
| Market cap | – | $7.9B |
| P/E (trailing) | – | 11.6 |
| Dividend yield | 0.00% | 2.59% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | NFG |
|---|---|---|
| 2022 | +27.5% | +1.9% |
| 2023 | +21.6% | -17.7% |
| 2024 | +38.7% | +25.4% |
| 2025 | +7.0% | +35.3% |
| 2026 | +32.0% | +4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and NFG good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATMP and NFG?
The ATMP/NFG correlation stands at 0.53 on a 3-year window (1 year: 0.53, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is NFG a good diversifier for ATMP?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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-nfg.json
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Related comparisons
Hubs: ATMP correlations · NFG correlations
