MLPB vs SPH: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Infrastructure Index ETN Series B due (MLPB) and Suburban Propane Partners, L.P. (SPH) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLPB and SPH?
On 3 years of weekly data the MLPB/SPH correlation comes out at 0.51, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.51). The 5-year figure is 0.55, and annualized covariance runs at 213.8 %².
Within MLPB's tracked universe of 22 assets, SPH comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MLPB outperformed by 28.7 percentage points (+29.4% for MLPB against +0.7% for SPH). Risk is not evenly split, since SPH carries 1.5 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.
MLPB vs SPH: side by side
| MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B due) | SPH (Suburban Propane Partners, L.P.) | |
|---|---|---|
| 1-year return | +29.4% | +0.7% |
| 5-year return | +186.2% | +66.9% |
| Volatility (ann.) | 16.5% | 25.4% |
| Beta vs S&P 500 | 0.32 | 0.23 |
| Max drawdown (3Y) | -16.5% | -20.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 7.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLPB | SPH |
|---|---|---|
| 2022 | +30.2% | +12.3% |
| 2023 | +22.0% | +27.0% |
| 2024 | +25.5% | +3.8% |
| 2025 | +7.4% | +15.2% |
| 2026 | +29.7% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLPB and SPH good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MLPB and SPH?
The MLPB/SPH correlation stands at 0.51 on a 3-year window (1 year: 0.69, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is SPH a good diversifier for MLPB?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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/mlpb-vs-sph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlpb-vs-sph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLPB correlations · SPH correlations
