KYN vs NML: Correlation
Measured on weekly returns over the past three years, Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) and Neuberger Energy Infrastructure and Income Fund Inc. (NML) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KYN and NML?
On 3 years of weekly data the KYN/NML correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.85 over 3. The 5-year figure is 0.87, and annualized covariance runs at 400.1 %².
Few assets follow KYN as closely as NML, which ranks #1 of 25 tracked partners. Their 12-month results are close: +29.1% for KYN against +30.7% for NML.
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.
KYN vs NML: side by side
| KYN (Kayne Anderson Energy Infrastructure Fund, Inc.) | NML (Neuberger Energy Infrastructure and Income Fund Inc.) | |
|---|---|---|
| 1-year return | +29.1% | +30.7% |
| 5-year return | +190.9% | +220.1% |
| Volatility (ann.) | 22.0% | 21.3% |
| Beta vs S&P 500 | 0.44 | 0.35 |
| Max drawdown (3Y) | -21.6% | -16.9% |
| Market cap | $2.5B | $0.6B |
| P/E (trailing) | 5.1 | 4.3 |
| Dividend yield | 6.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KYN | NML |
|---|---|---|
| 2022 | +20.5% | +32.8% |
| 2023 | +13.2% | +14.5% |
| 2024 | +60.4% | +40.5% |
| 2025 | +5.3% | +4.3% |
| 2026 | +25.5% | +29.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KYN and NML good diversifiers for each other?
No: a correlation of 0.85 means KYN and NML tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between KYN and NML?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.83 over the last year and 0.87 over 5 years.
Is NML a good diversifier for KYN?
No: a correlation of 0.85 means KYN and NML tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/kyn-vs-nml.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kyn-vs-nml/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KYN correlations · NML correlations
