DARE vs NRT: Correlation
How closely do Dare Bioscience, Inc. (DARE) and North European Oil Royality Trust (NRT) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DARE and NRT?
Over the past 3 years, DARE and NRT moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.23). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1139.8 %².
NRT is close to the least connected end of DARE's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months NRT outperformed by 148.6 percentage points (-63.4% for DARE against +85.2% for NRT). One caveat on sizing: DARE is 1.8 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.
DARE vs NRT: side by side
| DARE (Dare Bioscience, Inc.) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | -63.4% | +85.2% |
| 5-year return | -96.5% | +131.5% |
| Volatility (ann.) | 94.9% | 51.6% |
| Beta vs S&P 500 | 1.76 | -0.42 |
| Max drawdown (3Y) | -91.3% | -66.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 0.00% | 11.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DARE | NRT |
|---|---|---|
| 2022 | -58.5% | +41.9% |
| 2023 | -62.8% | -46.5% |
| 2024 | -15.9% | -25.3% |
| 2025 | -38.1% | +88.4% |
| 2026 | -61.7% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DARE and NRT good diversifiers for each other?
Yes. With a correlation of -0.23, DARE and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DARE and NRT?
As of 2026-08-27, the correlation of weekly returns between DARE and NRT is -0.23 over 3 years, -0.49 over 1 year and -0.12 over 5 years.
Is NRT a good diversifier for DARE?
Yes. With a correlation of -0.23, DARE and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/dare-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dare-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DARE correlations · NRT correlations
