NML vs SRV: Correlation
How closely do Neuberger Energy Infrastructure and Income Fund Inc. (NML) and NXG Cushing Midstream Energy Fund (SRV) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NML and SRV?
On 3 years of weekly data the NML/SRV correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 362.8 %².
Within NML's tracked universe of 26 assets, SRV comes in at #12 by 3-year correlation. Their 12-month results are close: +30.7% for NML against +25.8% for SRV.
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 SRV: side by side
| NML (Neuberger Energy Infrastructure and Income Fund Inc.) | SRV (NXG Cushing Midstream Energy Fund) | |
|---|---|---|
| 1-year return | +30.7% | +25.8% |
| 5-year return | +220.1% | +220.3% |
| Volatility (ann.) | 21.3% | 25.1% |
| Beta vs S&P 500 | 0.35 | 0.46 |
| Max drawdown (3Y) | -16.9% | -26.3% |
| Market cap | $0.6B | $0.3B |
| P/E (trailing) | 4.3 | 3.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NML | SRV |
|---|---|---|
| 2022 | +32.8% | +20.1% |
| 2023 | +14.5% | +16.8% |
| 2024 | +40.5% | +50.7% |
| 2025 | +4.3% | +5.0% |
| 2026 | +29.4% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NML and SRV good diversifiers for each other?
Only partially. A correlation of 0.68 means NML and SRV 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 SRV?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.68 over the last year and 0.74 over 5 years.
Is SRV a good diversifier for NML?
Only partially. A correlation of 0.68 means NML and SRV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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-srv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nml-vs-srv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NML correlations · SRV correlations
