MLPB vs WMB: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Infrastructure Index ETN Series B due (MLPB) and Williams Companies (WMB) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLPB and WMB?
On 3 years of weekly data the MLPB/WMB correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.58 over 3. The 5-year figure is 0.71, and annualized covariance runs at 231.6 %².
Within MLPB's tracked universe of 22 assets, WMB comes in at #14 by 3-year correlation. Their 12-month results are close: +29.4% for MLPB against +33.1% for WMB.
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 WMB: side by side
| MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B due) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +29.4% | +33.1% |
| 5-year return | +186.2% | +279.9% |
| Volatility (ann.) | 16.5% | 24.0% |
| Beta vs S&P 500 | 0.32 | 0.34 |
| Max drawdown (3Y) | -16.5% | -12.4% |
| Market cap | – | $90.7B |
| P/E (trailing) | – | 29.7 |
| Dividend yield | 0.00% | 2.76% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MLPB | WMB |
|---|---|---|
| 2022 | +30.2% | +32.8% |
| 2023 | +22.0% | +11.9% |
| 2024 | +25.5% | +62.3% |
| 2025 | +7.4% | +14.9% |
| 2026 | +29.7% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLPB and WMB good diversifiers for each other?
To a limited degree. At 0.58 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 WMB?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.51 over the last year and 0.71 over 5 years.
Is WMB a good diversifier for MLPB?
To a limited degree. At 0.58 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 0.58 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.
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Related comparisons
Hubs: MLPB correlations · WMB correlations
