FANG vs NRT: Correlation
Diamondback Energy (FANG) and North European Oil Royality Trust (NRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FANG and NRT?
On 3 years of weekly data the FANG/NRT correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.41 over 3. The 5-year figure is 0.42, and annualized covariance runs at 718.4 %².
By 3-year correlation, NRT places #28 of the 41 assets tracked against FANG. The last year tells two different stories: NRT led by 45.6 percentage points, +39.6% for FANG against +85.2% for NRT. One caveat on sizing: NRT is 1.5 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.
FANG vs NRT: side by side
| FANG (Diamondback Energy) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +39.6% | +85.2% |
| 5-year return | +224.9% | +131.5% |
| Volatility (ann.) | 34.1% | 51.6% |
| Beta vs S&P 500 | 0.32 | -0.42 |
| Max drawdown (3Y) | -42.1% | -66.1% |
| Market cap | $56.1B | $0.1B |
| P/E (trailing) | 38.0 | 8.4 |
| Dividend yield | 2.13% | 11.95% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | FANG | NRT |
|---|---|---|
| 2022 | +35.3% | +41.9% |
| 2023 | +19.7% | -46.5% |
| 2024 | +10.3% | -25.3% |
| 2025 | -5.6% | +88.4% |
| 2026 | +35.7% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FANG and NRT good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FANG and NRT?
The FANG/NRT correlation stands at 0.41 on a 3-year window (1 year: 0.42, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is NRT a good diversifier for FANG?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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/fang-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fang-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FANG correlations · NRT correlations
