AGG vs NRT: Correlation
iShares Core US Aggregate Bond ETF (AGG) and North European Oil Royality Trust (NRT) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGG and NRT?
Over the past 3 years, AGG and NRT moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -70.7 %².
By 3-year correlation, NRT places #28 of the 34 assets tracked against AGG. The last year tells two different stories: NRT led by 82.9 percentage points, +2.3% for AGG against +85.2% for NRT. Risk is not evenly split, since NRT carries 9.7 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.
AGG vs NRT: side by side
| AGG (iShares Core US Aggregate Bond ETF) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +2.3% | +85.2% |
| 5-year return | -1.1% | +131.5% |
| Volatility (ann.) | 5.3% | 51.6% |
| Beta vs S&P 500 | 0.07 | -0.42 |
| Max drawdown (3Y) | -4.8% | -66.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 4.05% | 11.95% |
| Expense ratio | 0.03% | – |
| Assets under management | $137.1B | – |
| Sector / category | ETF · Bonds | US Listed |
AGG is an Intermediate Core Bond fund from iShares: $137.1B under management, a 0.03% expense ratio, a 4.05% trailing dividend yield.
Year-by-year returns
| Year | AGG | NRT |
|---|---|---|
| 2022 | -13.0% | +41.9% |
| 2023 | +5.7% | -46.5% |
| 2024 | +1.3% | -25.3% |
| 2025 | +7.2% | +88.4% |
| 2026 | +0.3% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGG and NRT good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGG and NRT?
The AGG/NRT correlation stands at -0.26 on a 3-year window (1 year: -0.43, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is NRT a good diversifier for AGG?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agg-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agg-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGG correlations · NRT correlations
