ATMP vs PAGP: Correlation
How closely do iPath Select MLP ETN (ATMP) and Plains GP Holdings, L.P. - Class A Shares representing (PAGP) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and PAGP?
On 3 years of weekly data the ATMP/PAGP correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.82 over 3. The 5-year figure is 0.84, and annualized covariance runs at 323.0 %².
Within ATMP's tracked universe of 37 assets, PAGP comes in at #7 by 3-year correlation. The last year tells two different stories: PAGP led by 24.5 percentage points, +34.4% for ATMP against +58.9% for PAGP.
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 PAGP: side by side
| ATMP (iPath Select MLP ETN) | PAGP (Plains GP Holdings, L.P. - Class A Shares representing) | |
|---|---|---|
| 1-year return | +34.4% | +58.9% |
| 5-year return | +216.1% | +318.4% |
| Volatility (ann.) | 17.0% | 23.3% |
| Beta vs S&P 500 | 0.28 | 0.25 |
| Max drawdown (3Y) | -15.6% | -21.0% |
| Market cap | – | $6.5B |
| P/E (trailing) | – | 80.1 |
| Dividend yield | 0.00% | 5.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | PAGP |
|---|---|---|
| 2022 | +27.5% | +31.8% |
| 2023 | +21.6% | +38.1% |
| 2024 | +38.7% | +23.7% |
| 2025 | +7.0% | +12.7% |
| 2026 | +32.0% | +54.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and PAGP good diversifiers for each other?
No: a correlation of 0.82 means ATMP and PAGP tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ATMP and PAGP?
The ATMP/PAGP correlation stands at 0.82 on a 3-year window (1 year: 0.83, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is PAGP a good diversifier for ATMP?
No: a correlation of 0.82 means ATMP and PAGP tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
A reading of 0.82 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atmp-vs-pagp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atmp-vs-pagp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATMP correlations · PAGP correlations
