BLK vs NRT: Correlation
How closely do BlackRock (BLK) and North European Oil Royality Trust (NRT) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and NRT?
On 3 years of weekly data the BLK/NRT correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.19 lands near the 3-year figure. The 5-year figure is -0.04, and annualized covariance runs at -295.5 %².
Out of 42 assets tracked against BLK, NRT lands near the bottom at #39. Their recent paths diverged sharply: over the last 12 months NRT outperformed by 79.9 percentage points (+5.3% for BLK against +85.2% for NRT). Note the risk asymmetry: NRT runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BLK vs NRT: side by side
| BLK (BlackRock) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +5.3% | +85.2% |
| 5-year return | +38.9% | +131.5% |
| Volatility (ann.) | 24.7% | 51.6% |
| Beta vs S&P 500 | 1.19 | -0.42 |
| Max drawdown (3Y) | -23.7% | -66.1% |
| Market cap | $189.7B | $0.1B |
| P/E (trailing) | 28.1 | 8.4 |
| Dividend yield | 1.86% | 11.95% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BLK | NRT |
|---|---|---|
| 2022 | -20.4% | +41.9% |
| 2023 | +17.9% | -46.5% |
| 2024 | +29.3% | -25.3% |
| 2025 | +6.6% | +88.4% |
| 2026 | +10.3% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and NRT good diversifiers for each other?
Yes. With a correlation of -0.23, BLK and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BLK and NRT?
The BLK/NRT correlation stands at -0.23 on a 3-year window (1 year: -0.19, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is NRT a good diversifier for BLK?
Yes. With a correlation of -0.23, BLK and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/blk-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/blk-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLK correlations · NRT correlations
