BRN vs MTR: Correlation
How closely do Barnwell Industries, Inc. (BRN) and Mesa Royalty Trust (MTR) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRN and MTR?
Across a 3-year window, the weekly returns of BRN and MTR correlate at 0.36, moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.36). Stretching to 5 years gives 0.31, with an annualized covariance of 910.1 %².
Within BRN's tracked universe of 35 assets, MTR comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BRN ahead by 38.5 points (-19.1% versus -57.6%).
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.
BRN vs MTR: side by side
| BRN (Barnwell Industries, Inc.) | MTR (Mesa Royalty Trust) | |
|---|---|---|
| 1-year return | -19.1% | -57.6% |
| 5-year return | -58.9% | -45.0% |
| Volatility (ann.) | 53.1% | 47.8% |
| Beta vs S&P 500 | -0.22 | 0.01 |
| Max drawdown (3Y) | -68.5% | -87.3% |
| Market cap | – | – |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 6.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRN | MTR |
|---|---|---|
| 2022 | +2.8% | +310.9% |
| 2023 | -16.5% | -35.4% |
| 2024 | -37.9% | -54.1% |
| 2025 | -26.5% | -23.6% |
| 2026 | -14.0% | -45.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRN and MTR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BRN and MTR?
As of 2026-08-27, the correlation of weekly returns between BRN and MTR is 0.36 over 3 years, 0.25 over 1 year and 0.31 over 5 years.
Is MTR a good diversifier for BRN?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/brn-vs-mtr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brn-vs-mtr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRN correlations · MTR correlations
