NML vs TYG: Correlation
Neuberger Energy Infrastructure and Income Fund Inc. (NML) and Tortoise Energy Infrastructure Corporation (TYG) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NML and TYG?
On 3 years of weekly data the NML/TYG correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.67) than the 3-year average (0.80). The 5-year figure is 0.85, and annualized covariance runs at 362.6 %².
Among the 26 assets we track against NML, TYG ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NML outperformed by 16.6 percentage points (+30.7% for NML against +14.1% for TYG).
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 TYG: side by side
| NML (Neuberger Energy Infrastructure and Income Fund Inc.) | TYG (Tortoise Energy Infrastructure Corporation) | |
|---|---|---|
| 1-year return | +30.7% | +14.1% |
| 5-year return | +220.1% | +162.5% |
| Volatility (ann.) | 21.3% | 21.2% |
| Beta vs S&P 500 | 0.35 | 0.45 |
| Max drawdown (3Y) | -16.9% | -25.1% |
| Market cap | $0.6B | – |
| P/E (trailing) | 4.3 | 6.0 |
| Dividend yield | 0.00% | 11.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NML | TYG |
|---|---|---|
| 2022 | +32.8% | +24.2% |
| 2023 | +14.5% | -0.4% |
| 2024 | +40.5% | +60.2% |
| 2025 | +4.3% | +8.5% |
| 2026 | +29.4% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NML and TYG good diversifiers for each other?
No. With a correlation of 0.80, NML and TYG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NML and TYG?
The NML/TYG correlation stands at 0.80 on a 3-year window (1 year: 0.67, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is TYG a good diversifier for NML?
No. With a correlation of 0.80, NML and TYG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 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: NML correlations · TYG correlations
