ATMP vs SMC: Correlation
Measured on weekly returns over the past three years, iPath Select MLP ETN (ATMP) and Summit Midstream Corporation (SMC) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and SMC?
On 3 years of weekly data the ATMP/SMC correlation comes out at 0.38, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.38). The 5-year figure is 0.41, and annualized covariance runs at 335.0 %².
By 3-year correlation, SMC places #32 of the 37 assets tracked against ATMP. Correlation aside, the last 12 months split them widely, with SMC ahead by 30.8 points (+34.4% versus +65.2%). Note the risk asymmetry: SMC runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SMC: side by side
| ATMP (iPath Select MLP ETN) | SMC (Summit Midstream Corporation) | |
|---|---|---|
| 1-year return | +34.4% | +65.2% |
| 5-year return | +216.1% | +1.2% |
| Volatility (ann.) | 17.0% | 52.2% |
| Beta vs S&P 500 | 0.28 | 0.43 |
| Max drawdown (3Y) | -15.6% | -57.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | SMC |
|---|---|---|
| 2022 | +27.5% | -24.9% |
| 2023 | +21.6% | +7.4% |
| 2024 | +38.7% | +110.9% |
| 2025 | +7.0% | -29.4% |
| 2026 | +32.0% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and SMC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATMP and SMC?
As of 2026-08-27, the correlation of weekly returns between ATMP and SMC is 0.38 over 3 years, 0.69 over 1 year and 0.41 over 5 years.
Is SMC a good diversifier for ATMP?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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-smc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atmp-vs-smc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATMP correlations · SMC correlations
