ATMP vs TPL: Correlation
iPath Select MLP ETN (ATMP) and Texas Pacific Land Corporation (TPL) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and TPL?
Across a 3-year window, the weekly returns of ATMP and TPL correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 443.3 %².
Within ATMP's tracked universe of 37 assets, TPL comes in at #27 by 3-year correlation. Over the last 12 months ATMP came out ahead by 11.6 percentage points (+34.4% against +22.8%). Risk is not evenly split, since TPL carries 2.9 times the volatility of the other side.
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 TPL: side by side
| ATMP (iPath Select MLP ETN) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +34.4% | +22.8% |
| 5-year return | +216.1% | +149.6% |
| Volatility (ann.) | 17.0% | 50.0% |
| Beta vs S&P 500 | 0.28 | 0.62 |
| Max drawdown (3Y) | -15.6% | -52.2% |
| Market cap | – | $25.5B |
| P/E (trailing) | – | 47.2 |
| Dividend yield | 0.00% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ATMP | TPL |
|---|---|---|
| 2022 | +27.5% | +91.3% |
| 2023 | +21.6% | -32.4% |
| 2024 | +38.7% | +115.3% |
| 2025 | +7.0% | -21.6% |
| 2026 | +32.0% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and TPL good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATMP and TPL?
The ATMP/TPL correlation stands at 0.52 on a 3-year window (1 year: 0.50, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is TPL a good diversifier for ATMP?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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-tpl.json
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Related comparisons
Hubs: ATMP correlations · TPL correlations
