MLPB vs SRV: Correlation
How closely do ETRACS Alerian MLP Infrastructure Index ETN Series B due (MLPB) and NXG Cushing Midstream Energy Fund (SRV) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLPB and SRV?
On 3 years of weekly data the MLPB/SRV correlation comes out at 0.60, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.72, and annualized covariance runs at 250.6 %².
Within MLPB's tracked universe of 22 assets, SRV comes in at #13 by 3-year correlation. Neither side won the trailing year by much: +29.4% against +25.8%. Note the risk asymmetry: SRV runs 1.5 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.
MLPB vs SRV: side by side
| MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B due) | SRV (NXG Cushing Midstream Energy Fund) | |
|---|---|---|
| 1-year return | +29.4% | +25.8% |
| 5-year return | +186.2% | +220.3% |
| Volatility (ann.) | 16.5% | 25.1% |
| Beta vs S&P 500 | 0.32 | 0.46 |
| Max drawdown (3Y) | -16.5% | -26.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 3.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLPB | SRV |
|---|---|---|
| 2022 | +30.2% | +20.1% |
| 2023 | +22.0% | +16.8% |
| 2024 | +25.5% | +50.7% |
| 2025 | +7.4% | +5.0% |
| 2026 | +29.7% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLPB and SRV good diversifiers for each other?
To a limited degree. At 0.60 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 MLPB and SRV?
As of 2026-08-27, the correlation of weekly returns between MLPB and SRV is 0.60 over 3 years, 0.56 over 1 year and 0.72 over 5 years.
Is SRV a good diversifier for MLPB?
To a limited degree. At 0.60 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 0.60 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-srv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mlpb-vs-srv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLPB correlations · SRV correlations
