HCC vs NRP: Correlation
Measured on weekly returns over the past three years, Warrior Met Coal, Inc. (HCC) and Natural Resource Partners LP Limited Partnership (NRP) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCC and NRP?
On 3 years of weekly data the HCC/NRP correlation comes out at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 618.1 %².
By 3-year correlation, NRP places #5 of the 10 assets tracked against HCC. Correlation aside, the last 12 months split them widely, with HCC ahead by 74.7 points (+84.3% versus +9.6%). One caveat on sizing: HCC is 1.7 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.
HCC vs NRP: side by side
| HCC (Warrior Met Coal, Inc.) | NRP (Natural Resource Partners LP Limited Partnership) | |
|---|---|---|
| 1-year return | +84.3% | +9.6% |
| 5-year return | +450.1% | +624.7% |
| Volatility (ann.) | 48.0% | 28.3% |
| Beta vs S&P 500 | 0.98 | 0.41 |
| Max drawdown (3Y) | -45.5% | -22.9% |
| Market cap | $5.7B | – |
| P/E (trailing) | 25.3 | 14.0 |
| Dividend yield | 0.30% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCC | NRP |
|---|---|---|
| 2022 | +41.0% | +72.9% |
| 2023 | +81.6% | +87.0% |
| 2024 | -9.8% | +27.4% |
| 2025 | +63.5% | -1.9% |
| 2026 | +23.1% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCC and NRP good diversifiers for each other?
Reasonably. At 0.46, HCC and NRP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HCC and NRP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.45 over the last year and 0.34 over 5 years.
Is NRP a good diversifier for HCC?
Reasonably. At 0.46, HCC and NRP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/hcc-vs-nrp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hcc-vs-nrp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HCC correlations · NRP correlations
