CME vs NTR: Correlation
Measured on weekly returns over the past three years, CME Group (CME) and Nutrien Ltd. (NTR) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and NTR?
On 3 years of weekly data the CME/NTR correlation comes out at 0.35, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.35 over 3 years. The 5-year figure is 0.24, and annualized covariance runs at 197.6 %².
By 3-year correlation, NTR places #6 of the 47 assets tracked against CME. Correlation aside, the last 12 months split them widely, with NTR ahead by 19.6 points (+8.1% versus +27.7%).
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.
CME vs NTR: side by side
| CME (CME Group) | NTR (Nutrien Ltd.) | |
|---|---|---|
| 1-year return | +8.1% | +27.7% |
| 5-year return | +73.9% | +39.5% |
| Volatility (ann.) | 20.0% | 28.2% |
| Beta vs S&P 500 | 0.12 | 0.22 |
| Max drawdown (3Y) | -31.1% | -28.3% |
| Market cap | $101.0B | $34.9B |
| P/E (trailing) | 23.8 | 14.9 |
| Dividend yield | 1.82% | 2.98% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | NTR |
|---|---|---|
| 2022 | -22.9% | -0.7% |
| 2023 | +31.3% | -20.2% |
| 2024 | +15.4% | -17.0% |
| 2025 | +19.8% | +40.8% |
| 2026 | +5.9% | +20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and NTR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CME and NTR?
The CME/NTR correlation stands at 0.35 on a 3-year window (1 year: 0.59, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is NTR a good diversifier for CME?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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/cme-vs-ntr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cme-vs-ntr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CME correlations · NTR correlations
