KMI vs NML: Correlation
Measured on weekly returns over the past three years, Kinder Morgan (KMI) and Neuberger Energy Infrastructure and Income Fund Inc. (NML) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMI and NML?
Across a 3-year window, the weekly returns of KMI and NML correlate at 0.70, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 329.2 %².
Within KMI's tracked universe of 33 assets, NML comes in at #7 by 3-year correlation. Over the last 12 months NML came out ahead by 8.4 percentage points (+22.3% against +30.7%).
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.
KMI vs NML: side by side
| KMI (Kinder Morgan) | NML (Neuberger Energy Infrastructure and Income Fund Inc.) | |
|---|---|---|
| 1-year return | +22.3% | +30.7% |
| 5-year return | +153.0% | +220.1% |
| Volatility (ann.) | 22.1% | 21.3% |
| Beta vs S&P 500 | 0.29 | 0.35 |
| Max drawdown (3Y) | -18.4% | -16.9% |
| Market cap | $70.2B | $0.6B |
| P/E (trailing) | 20.6 | 4.3 |
| Dividend yield | 3.69% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | KMI | NML |
|---|---|---|
| 2022 | +21.2% | +32.8% |
| 2023 | +4.1% | +14.5% |
| 2024 | +64.4% | +40.5% |
| 2025 | +4.8% | +4.3% |
| 2026 | +18.0% | +29.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMI and NML good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between KMI and NML?
The KMI/NML correlation stands at 0.70 on a 3-year window (1 year: 0.69, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is NML a good diversifier for KMI?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/kmi-vs-nml.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kmi-vs-nml/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KMI correlations · NML correlations
