CNR vs NRP: Correlation
Measured on weekly returns over the past three years, Core Natural Resources, Inc. (CNR) and Natural Resource Partners LP Limited Partnership (NRP) 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 CNR and NRP?
Across a 3-year window, the weekly returns of CNR and NRP correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 550.9 %².
By 3-year correlation, NRP places #6 of the 13 assets tracked against CNR. The last year tells two different stories: CNR led by 30.7 percentage points, +40.3% for CNR against +9.6% for NRP. One caveat on sizing: CNR is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CNR vs NRP: side by side
| CNR (Core Natural Resources, Inc.) | NRP (Natural Resource Partners LP Limited Partnership) | |
|---|---|---|
| 1-year return | +40.3% | +9.6% |
| 5-year return | +395.6% | +624.7% |
| Volatility (ann.) | 43.9% | 28.3% |
| Beta vs S&P 500 | 0.53 | 0.41 |
| Max drawdown (3Y) | -52.1% | -22.9% |
| Market cap | $5.0B | – |
| P/E (trailing) | 49.3 | 14.0 |
| Dividend yield | 0.41% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNR | NRP |
|---|---|---|
| 2022 | +195.5% | +72.9% |
| 2023 | +60.7% | +87.0% |
| 2024 | +6.6% | +27.4% |
| 2025 | -16.6% | -1.9% |
| 2026 | +15.1% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNR and NRP good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CNR and NRP?
The CNR/NRP correlation stands at 0.44 on a 3-year window (1 year: 0.45, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is NRP a good diversifier for CNR?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/cnr-vs-nrp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnr-vs-nrp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNR correlations · NRP correlations
