NML vs NXG: Correlation
Neuberger Energy Infrastructure and Income Fund Inc. (NML) and NXG NextGen Infrastructure Income Fund (NXG) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NML and NXG?
On 3 years of weekly data the NML/NXG correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.61 over 3 years. The 5-year figure is 0.69, and annualized covariance runs at 374.2 %².
Within NML's tracked universe of 26 assets, NXG comes in at #16 by 3-year correlation. Their 12-month results are close: +30.7% for NML against +35.5% for NXG.
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.
NML vs NXG: side by side
| NML (Neuberger Energy Infrastructure and Income Fund Inc.) | NXG (NXG NextGen Infrastructure Income Fund) | |
|---|---|---|
| 1-year return | +30.7% | +35.5% |
| 5-year return | +220.1% | +116.8% |
| Volatility (ann.) | 21.3% | 28.6% |
| Beta vs S&P 500 | 0.35 | 0.60 |
| Max drawdown (3Y) | -16.9% | -26.2% |
| Market cap | $0.6B | $0.4B |
| P/E (trailing) | 4.3 | 2.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NML | NXG |
|---|---|---|
| 2022 | +32.8% | -7.6% |
| 2023 | +14.5% | +4.3% |
| 2024 | +40.5% | +50.6% |
| 2025 | +4.3% | +25.8% |
| 2026 | +29.4% | +20.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NML and NXG good diversifiers for each other?
Only partially. A correlation of 0.61 means NML and NXG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NML and NXG?
As of 2026-08-27, the correlation of weekly returns between NML and NXG is 0.61 over 3 years, 0.35 over 1 year and 0.69 over 5 years.
Is NXG a good diversifier for NML?
Only partially. A correlation of 0.61 means NML and NXG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 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/nml-vs-nxg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nml-vs-nxg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NML correlations · NXG correlations
