Global X MLP ETF (MLPA) — Stock Correlations & Overview
Over the past year, MLPA has moved most closely with MLPB, AMUB, AMLP. Explore the stocks most correlated and inversely correlated with MLPA below, along with its price, financials, and company profile.
Stocks correlated with MLPA
Correlation of daily returns. Higher positive values move with MLPA; negative values move opposite it. Informational only, not investment advice.
Most correlated with MLPA
| Symbol | Company | Correlation |
|---|---|---|
| MLPB | ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 | 0.90 |
| AMUB | ETRACS Alerian MLP Index ETN Series B due July 18, 2042 | 0.89 |
| AMLP | Alerian MLP ETF | 0.86 |
| MLPR | ETRACS Quarterly Pay 1.5X Leveraged Alerian MLP Index ETN | 0.86 |
| ATMP | iPath Select MLP ETN | 0.84 |
Most inversely correlated with MLPA
| Symbol | Company | Correlation |
|---|---|---|
| ERY | Direxion Daily Energy Bear 2X ETF | -0.60 |
| DUG | ProShares UltraShort Energy | -0.60 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.59 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.56 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.56 |
Frequently asked questions about MLPA correlations
- Which stocks are most correlated with MLPA?
- Based on one year of daily returns, the stocks most correlated with Global X MLP ETF (MLPA) are MLPB (0.90), AMUB (0.89) and AMLP (0.86). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with MLPA?
- Over the past year, the stocks most inversely correlated with Global X MLP ETF (MLPA) are ERY (-0.60), DUG (-0.60) and OILD (-0.59). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these MLPA correlations calculated?
- We compute the correlation of daily returns between MLPA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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