GRMN vs NRT: Correlation
How closely do Garmin (GRMN) and North European Oil Royality Trust (NRT) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and NRT?
Over the past 3 years, GRMN and NRT moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -294.4 %².
Among the 36 assets we track against GRMN, NRT ranks #30 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRT ahead by 60.1 points (+25.1% versus +85.2%).
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.
GRMN vs NRT: side by side
| GRMN (Garmin) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +25.1% | +85.2% |
| 5-year return | +80.9% | +131.5% |
| Volatility (ann.) | 34.7% | 51.6% |
| Beta vs S&P 500 | 1.06 | -0.42 |
| Max drawdown (3Y) | -28.0% | -66.1% |
| Market cap | $55.9B | $0.1B |
| P/E (trailing) | 29.9 | 8.4 |
| Dividend yield | 1.45% | 11.95% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GRMN | NRT |
|---|---|---|
| 2022 | -30.2% | +41.9% |
| 2023 | +43.1% | -46.5% |
| 2024 | +63.3% | -25.3% |
| 2025 | -0.1% | +88.4% |
| 2026 | +44.1% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and NRT good diversifiers for each other?
Yes. With a correlation of -0.16, GRMN and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRMN and NRT?
As of 2026-08-27, the correlation of weekly returns between GRMN and NRT is -0.16 over 3 years, -0.16 over 1 year and -0.07 over 5 years.
Is NRT a good diversifier for GRMN?
Yes. With a correlation of -0.16, GRMN and NRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/grmn-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/grmn-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRMN correlations · NRT correlations
