NML vs UZX: Correlation
Measured on weekly returns over the past three years, Neuberger Energy Infrastructure and Income Fund Inc. (NML) and Linkage Global Inc - Class A (UZX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NML and UZX?
Over the past 3 years, NML and UZX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.28). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -821.4 %².
Out of 26 assets tracked against NML, UZX lands near the bottom at #24. Correlation aside, the last 12 months split them widely, with NML ahead by 125.3 points (+30.7% versus -94.6%). Risk is not evenly split, since UZX carries 6.5 times the volatility of the other side.
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 UZX: side by side
| NML (Neuberger Energy Infrastructure and Income Fund Inc.) | UZX (Linkage Global Inc - Class A) | |
|---|---|---|
| 1-year return | +30.7% | -94.6% |
| 5-year return | +220.1% | n/a |
| Volatility (ann.) | 21.3% | 137.7% |
| Beta vs S&P 500 | 0.35 | 0.09 |
| Max drawdown (3Y) | -16.9% | -99.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 4.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NML | UZX |
|---|---|---|
| 2022 | +32.8% | – |
| 2023 | +14.5% | – |
| 2024 | +40.5% | -71.7% |
| 2025 | +4.3% | -58.8% |
| 2026 | +29.4% | -93.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NML and UZX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between NML and UZX?
As of 2026-08-27, the correlation of weekly returns between NML and UZX is -0.28 over 3 years, -0.45 over 1 year and n/a over 5 years.
Is UZX a good diversifier for NML?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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-uzx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nml-vs-uzx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NML correlations · UZX correlations
