BGR vs PEO: Correlation
How closely do BlackRock Energy and Resources Trust (BGR) and Adams Natural Resources Fund, Inc. (PEO) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGR and PEO?
Across a 3-year window, the weekly returns of BGR and PEO correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Stretching to 5 years gives 0.90, with an annualized covariance of 334.4 %².
Few assets follow BGR as closely as PEO, which ranks #2 of 19 tracked partners. The trailing year gives PEO the advantage: +35.3% versus +41.6%, a 6.3-point spread.
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.
BGR vs PEO: side by side
| BGR (BlackRock Energy and Resources Trust) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +35.3% | +41.6% |
| 5-year return | +165.0% | +179.3% |
| Volatility (ann.) | 19.7% | 20.2% |
| Beta vs S&P 500 | 0.21 | 0.30 |
| Max drawdown (3Y) | -18.3% | -18.9% |
| Market cap | $0.4B | $0.8B |
| P/E (trailing) | 10.8 | 4.8 |
| Dividend yield | 6.86% | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGR | PEO |
|---|---|---|
| 2022 | +38.9% | +41.8% |
| 2023 | +5.8% | +0.9% |
| 2024 | +8.1% | +13.6% |
| 2025 | +17.3% | +10.0% |
| 2026 | +30.7% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGR and PEO good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BGR and PEO?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.82 over the last year and 0.90 over 5 years.
Is PEO a good diversifier for BGR?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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/bgr-vs-peo.json
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[](https://www.pairbook.io/pair/bgr-vs-peo/)
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Related comparisons
Hubs: BGR correlations · PEO correlations
