EE vs NML: Correlation
Excelerate Energy, Inc. (EE) and Neuberger Energy Infrastructure and Income Fund Inc. (NML) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EE and NML?
Over the past 3 years, EE and NML moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 343.2 %².
Within EE's tracked universe of 10 assets, NML comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EE outperformed by 33.0 percentage points (+63.7% for EE against +30.7% for NML). Note the risk asymmetry: EE runs 1.7 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.
EE vs NML: side by side
| EE (Excelerate Energy, Inc.) | NML (Neuberger Energy Infrastructure and Income Fund Inc.) | |
|---|---|---|
| 1-year return | +63.7% | +30.7% |
| 5-year return | +52.1% | +220.1% |
| Volatility (ann.) | 36.5% | 21.3% |
| Beta vs S&P 500 | 0.47 | 0.35 |
| Max drawdown (3Y) | -29.1% | -16.9% |
| Market cap | $4.5B | $0.6B |
| P/E (trailing) | 27.0 | 4.3 |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EE | NML |
|---|---|---|
| 2022 | – | +32.8% |
| 2023 | -38.0% | +14.5% |
| 2024 | +96.9% | +40.5% |
| 2025 | -6.3% | +4.3% |
| 2026 | +42.2% | +29.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EE and NML good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EE and NML?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.39 over the last year and 0.48 over 5 years.
Is NML a good diversifier for EE?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/ee-vs-nml.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ee-vs-nml/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EE correlations · NML correlations
