IFF vs NRT: Correlation
International Flavors & Fragrances (IFF) and North European Oil Royality Trust (NRT) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFF and NRT?
Across a 3-year window, the weekly returns of IFF and NRT correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.20). Stretching to 5 years gives -0.05, with an annualized covariance of -303.8 %².
Among the 32 assets we track against IFF, NRT ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRT ahead by 52.0 points (+33.2% versus +85.2%). One caveat on sizing: NRT 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.
IFF vs NRT: side by side
| IFF (International Flavors & Fragrances) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | +33.2% | +85.2% |
| 5-year return | -34.3% | +131.5% |
| Volatility (ann.) | 29.5% | 51.6% |
| Beta vs S&P 500 | 0.69 | -0.42 |
| Max drawdown (3Y) | -42.6% | -66.1% |
| Market cap | $22.2B | $0.1B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 1.84% | 11.95% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | IFF | NRT |
|---|---|---|
| 2022 | -28.3% | +41.9% |
| 2023 | -19.5% | -46.5% |
| 2024 | +6.3% | -25.3% |
| 2025 | -18.4% | +88.4% |
| 2026 | +30.3% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFF and NRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between IFF and NRT?
As of 2026-08-27, the correlation of weekly returns between IFF and NRT is -0.20 over 3 years, -0.36 over 1 year and -0.05 over 5 years.
Is NRT a good diversifier for IFF?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/iff-vs-nrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iff-vs-nrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IFF correlations · NRT correlations
