EQNR vs NRT: Correlation
How closely do Equinor ASA (EQNR) and North European Oil Royality Trust (NRT) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and NRT?
Across a 3-year window, the weekly returns of EQNR and NRT correlate at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.42 over 3 years. Stretching to 5 years gives 0.36, with an annualized covariance of 722.0 %².
By 3-year correlation, NRT places #10 of the 79 assets tracked against EQNR. Over the last 12 months NRT came out ahead by 8.0 percentage points (+77.2% against +85.2%). One caveat on sizing: NRT 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.
EQNR vs NRT: side by side
| EQNR (Equinor ASA) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +77.2% | +85.2% |
| 5-year return | +180.6% | +131.5% |
| Volatility (ann.) | 33.2% | 51.6% |
| Beta vs S&P 500 | -0.25 | -0.42 |
| Max drawdown (3Y) | -27.6% | -66.1% |
| Market cap | $98.6B | $0.1B |
| P/E (trailing) | 11.2 | 8.4 |
| Dividend yield | 3.73% | 11.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | NRT |
|---|---|---|
| 2022 | +42.8% | +41.9% |
| 2023 | -0.8% | -46.5% |
| 2024 | -16.0% | -25.3% |
| 2025 | +6.1% | +88.4% |
| 2026 | +81.8% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and NRT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EQNR and NRT?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.56 over the last year and 0.36 over 5 years.
Is NRT a good diversifier for EQNR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eqnr-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqnr-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQNR correlations · NRT correlations
