BTU vs CNR: Correlation
How closely do Peabody Energy Corporation (BTU) and Core Natural Resources, Inc. (CNR) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTU and CNR?
Across a 3-year window, the weekly returns of BTU and CNR correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 1633.8 %².
CNR is one of the assets that tracks BTU most closely: it ranks #1 out of the 10 assets we track against BTU. Correlation aside, the last 12 months split them widely, with BTU ahead by 37.3 points (+77.6% versus +40.3%).
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.
BTU vs CNR: side by side
| BTU (Peabody Energy Corporation) | CNR (Core Natural Resources, Inc.) | |
|---|---|---|
| 1-year return | +77.6% | +40.3% |
| 5-year return | +95.9% | +395.6% |
| Volatility (ann.) | 52.8% | 43.9% |
| Beta vs S&P 500 | 0.73 | 0.53 |
| Max drawdown (3Y) | -65.1% | -52.1% |
| Market cap | $3.6B | $5.0B |
| P/E (trailing) | – | 49.3 |
| Dividend yield | 1.10% | 0.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTU | CNR |
|---|---|---|
| 2022 | +162.4% | +195.5% |
| 2023 | -7.0% | +60.7% |
| 2024 | -12.8% | +6.6% |
| 2025 | +44.2% | -16.6% |
| 2026 | -0.0% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTU and CNR good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTU and CNR?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.73 over the last year and 0.71 over 5 years.
Is CNR a good diversifier for BTU?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btu-vs-cnr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btu-vs-cnr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTU correlations · CNR correlations
