NML vs OKE: Correlation
Neuberger Energy Infrastructure and Income Fund Inc. (NML) and Oneok (OKE) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NML and OKE?
On 3 years of weekly data the NML/OKE correlation comes out at 0.74, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.74 over 3. The 5-year figure is 0.78, and annualized covariance runs at 454.9 %².
Among the 26 assets we track against NML, OKE ranks #7 by 3-year correlation. Their 12-month results are close: +30.7% for NML against +33.0% for OKE.
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 OKE: side by side
| NML (Neuberger Energy Infrastructure and Income Fund Inc.) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +30.7% | +33.0% |
| 5-year return | +220.1% | +134.0% |
| Volatility (ann.) | 21.3% | 28.7% |
| Beta vs S&P 500 | 0.35 | 0.42 |
| Max drawdown (3Y) | -16.9% | -42.2% |
| Market cap | $0.6B | $59.7B |
| P/E (trailing) | 4.3 | 16.4 |
| Dividend yield | 0.00% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | NML | OKE |
|---|---|---|
| 2022 | +32.8% | +18.9% |
| 2023 | +14.5% | +13.2% |
| 2024 | +40.5% | +50.1% |
| 2025 | +4.3% | -22.9% |
| 2026 | +29.4% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NML and OKE good diversifiers for each other?
Only partially. A correlation of 0.74 means NML and OKE 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 OKE?
The NML/OKE correlation stands at 0.74 on a 3-year window (1 year: 0.74, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is OKE a good diversifier for NML?
Only partially. A correlation of 0.74 means NML and OKE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/nml-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nml-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NML correlations · OKE correlations
