CF vs NTR: Correlation
CF Industries (CF) and Nutrien Ltd. (NTR) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and NTR?
Across a 3-year window, the weekly returns of CF and NTR correlate at 0.55, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.55). Stretching to 5 years gives 0.61, with an annualized covariance of 512.3 %².
Within CF's tracked universe of 50 assets, NTR comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CF outperformed by 20.9 percentage points (+48.6% for CF against +27.7% for NTR).
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.
CF vs NTR: side by side
| CF (CF Industries) | NTR (Nutrien Ltd.) | |
|---|---|---|
| 1-year return | +48.6% | +27.7% |
| 5-year return | +211.5% | +39.5% |
| Volatility (ann.) | 32.8% | 28.2% |
| Beta vs S&P 500 | -0.20 | 0.22 |
| Max drawdown (3Y) | -29.2% | -28.3% |
| Market cap | $19.0B | $34.9B |
| P/E (trailing) | 9.3 | 14.9 |
| Dividend yield | 1.59% | 2.98% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CF | NTR |
|---|---|---|
| 2022 | +22.3% | -0.7% |
| 2023 | -4.7% | -20.2% |
| 2024 | +10.1% | -17.0% |
| 2025 | -7.2% | +40.8% |
| 2026 | +64.9% | +20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and NTR good diversifiers for each other?
To a limited degree. At 0.55 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 CF and NTR?
As of 2026-08-27, the correlation of weekly returns between CF and NTR is 0.55 over 3 years, 0.66 over 1 year and 0.61 over 5 years.
Is NTR a good diversifier for CF?
To a limited degree. At 0.55 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 0.55 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/cf-vs-ntr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cf-vs-ntr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CF correlations · NTR correlations
