AGL vs NRP: Correlation
How closely do agilon health, inc. (AGL) and Natural Resource Partners LP Limited Partnership (NRP) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGL and NRP?
Across a 3-year window, the weekly returns of AGL and NRP correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.22). Stretching to 5 years gives -0.11, with an annualized covariance of -778.3 %².
NRP is close to the least connected end of AGL's tracked universe, ranking #10 of 14. Correlation aside, the last 12 months split them widely, with AGL ahead by 180.2 points (+189.8% versus +9.6%). One caveat on sizing: AGL is 4.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AGL vs NRP: side by side
| AGL (agilon health, inc.) | NRP (Natural Resource Partners LP Limited Partnership) | |
|---|---|---|
| 1-year return | +189.8% | +9.6% |
| 5-year return | -90.0% | +624.7% |
| Volatility (ann.) | 126.1% | 28.3% |
| Beta vs S&P 500 | 1.73 | 0.41 |
| Max drawdown (3Y) | -98.4% | -22.9% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | 14.0 |
| Dividend yield | 0.00% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGL | NRP |
|---|---|---|
| 2022 | -40.2% | +72.9% |
| 2023 | -22.2% | +87.0% |
| 2024 | -84.9% | +27.4% |
| 2025 | -63.7% | -1.9% |
| 2026 | +446.8% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGL and NRP good diversifiers for each other?
Yes. With a correlation of -0.22, AGL and NRP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGL and NRP?
The AGL/NRP correlation stands at -0.22 on a 3-year window (1 year: -0.39, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is NRP a good diversifier for AGL?
Yes. With a correlation of -0.22, AGL and NRP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/agl-vs-nrp.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGL correlations · NRP correlations
