BP vs NRT: Correlation
Measured on weekly returns over the past three years, BP p.l.c. (BP) and North European Oil Royality Trust (NRT) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and NRT?
Across a 3-year window, the weekly returns of BP and NRT correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 605.3 %².
By 3-year correlation, NRT places #7 of the 26 assets tracked against BP. Their recent paths diverged sharply: over the last 12 months NRT outperformed by 57.6 percentage points (+27.6% for BP against +85.2% for NRT). Risk is not evenly split, since NRT carries 1.9 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.
BP vs NRT: side by side
| BP (BP p.l.c.) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +27.6% | +85.2% |
| 5-year return | +119.9% | +131.5% |
| Volatility (ann.) | 26.6% | 51.6% |
| Beta vs S&P 500 | 0.06 | -0.42 |
| Max drawdown (3Y) | -30.6% | -66.1% |
| Market cap | $109.0B | $0.1B |
| P/E (trailing) | 20.3 | 8.4 |
| Dividend yield | 0.79% | 11.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BP | NRT |
|---|---|---|
| 2022 | +37.0% | +41.9% |
| 2023 | +6.0% | -46.5% |
| 2024 | -11.8% | -25.3% |
| 2025 | +24.5% | +88.4% |
| 2026 | +26.4% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and NRT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BP and NRT?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.50 over the last year and 0.37 over 5 years.
Is NRT a good diversifier for BP?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/bp-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bp-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BP correlations · NRT correlations
