AR vs SJT: Correlation
Antero Resources Corporation (AR) and San Juan Basin Royalty Trust (SJT) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AR and SJT?
Across a 3-year window, the weekly returns of AR and SJT correlate at 0.34, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.34 over 3. Stretching to 5 years gives 0.51, with an annualized covariance of 568.5 %².
Within AR's tracked universe of 12 assets, SJT comes in at #6 by 3-year correlation. The last year tells two different stories: AR led by 75.9 percentage points, +23.1% for AR against -52.8% for SJT.
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.
AR vs SJT: side by side
| AR (Antero Resources Corporation) | SJT (San Juan Basin Royalty Trust) | |
|---|---|---|
| 1-year return | +23.1% | -52.8% |
| 5-year return | +181.4% | -10.0% |
| Volatility (ann.) | 40.6% | 41.6% |
| Beta vs S&P 500 | 0.32 | 0.18 |
| Max drawdown (3Y) | -33.2% | -67.4% |
| Market cap | $11.8B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AR | SJT |
|---|---|---|
| 2022 | +77.1% | +120.6% |
| 2023 | -26.8% | -50.0% |
| 2024 | +54.5% | -22.9% |
| 2025 | -1.7% | +46.7% |
| 2026 | +11.8% | -51.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AR and SJT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AR and SJT?
As of 2026-08-27, the correlation of weekly returns between AR and SJT is 0.34 over 3 years, 0.37 over 1 year and 0.51 over 5 years.
Is SJT a good diversifier for AR?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ar-vs-sjt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ar-vs-sjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AR correlations · SJT correlations
