ATMP vs NGS: Correlation
How closely do iPath Select MLP ETN (ATMP) and Natural Gas Services Group, Inc. (NGS) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and NGS?
Across a 3-year window, the weekly returns of ATMP and NGS correlate at 0.60, strong. Recent behaviour matches the longer record: 0.53 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 455.0 %².
Within ATMP's tracked universe of 37 assets, NGS comes in at #21 by 3-year correlation. Neither side won the trailing year by much: +34.4% against +37.9%. One caveat on sizing: NGS is 2.6 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.
ATMP vs NGS: side by side
| ATMP (iPath Select MLP ETN) | NGS (Natural Gas Services Group, Inc.) | |
|---|---|---|
| 1-year return | +34.4% | +37.9% |
| 5-year return | +216.1% | +274.7% |
| Volatility (ann.) | 17.0% | 45.0% |
| Beta vs S&P 500 | 0.28 | 0.87 |
| Max drawdown (3Y) | -15.6% | -40.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 21.7 |
| Dividend yield | 0.00% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | NGS |
|---|---|---|
| 2022 | +27.5% | +9.5% |
| 2023 | +21.6% | +40.3% |
| 2024 | +38.7% | +66.7% |
| 2025 | +7.0% | +26.5% |
| 2026 | +32.0% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and NGS good diversifiers for each other?
Only partially. A correlation of 0.60 means ATMP and NGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ATMP and NGS?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.53 over the last year and 0.53 over 5 years.
Is NGS a good diversifier for ATMP?
Only partially. A correlation of 0.60 means ATMP and NGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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-ngs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atmp-vs-ngs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATMP correlations · NGS correlations
