ATMP vs PDX: Correlation
Measured on weekly returns over the past three years, iPath Select MLP ETN (ATMP) and PIMCO Dynamic Income Strategy Fund (PDX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and PDX?
Across a 3-year window, the weekly returns of ATMP and PDX correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 243.7 %².
Among the 37 assets we track against ATMP, PDX ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ATMP ahead by 23.5 points (+34.4% versus +10.9%). One caveat on sizing: PDX is 1.5 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 PDX: side by side
| ATMP (iPath Select MLP ETN) | PDX (PIMCO Dynamic Income Strategy Fund) | |
|---|---|---|
| 1-year return | +34.4% | +10.9% |
| 5-year return | +216.1% | +203.4% |
| Volatility (ann.) | 17.0% | 26.1% |
| Beta vs S&P 500 | 0.28 | 0.40 |
| Max drawdown (3Y) | -15.6% | -37.2% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | PDX |
|---|---|---|
| 2022 | +27.5% | +23.0% |
| 2023 | +21.6% | +44.5% |
| 2024 | +38.7% | +37.0% |
| 2025 | +7.0% | -10.6% |
| 2026 | +32.0% | +21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and PDX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATMP and PDX?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.53 over the last year and 0.71 over 5 years.
Is PDX a good diversifier for ATMP?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-pdx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atmp-vs-pdx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATMP correlations · PDX correlations
