MLM vs NRT: Correlation
Martin Marietta Materials (MLM) 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 MLM and NRT?
Over the past 3 years, MLM and NRT moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is 0.00, and the annualized covariance of weekly returns is -249.3 %².
Among the 36 assets we track against MLM, NRT ranks #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRT ahead by 99.0 points (-13.8% versus +85.2%). Note the risk asymmetry: NRT runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MLM vs NRT: side by side
| MLM (Martin Marietta Materials) | NRT (North European Oil Royality Trust) | |
|---|---|---|
| 1-year return | -13.8% | +85.2% |
| 5-year return | +42.4% | +131.5% |
| Volatility (ann.) | 23.9% | 51.6% |
| Beta vs S&P 500 | 0.85 | -0.42 |
| Max drawdown (3Y) | -26.8% | -66.1% |
| Market cap | $37.5B | $0.1B |
| P/E (trailing) | 34.4 | 8.4 |
| Dividend yield | 0.62% | 11.95% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | MLM | NRT |
|---|---|---|
| 2022 | -22.7% | +41.9% |
| 2023 | +48.6% | -46.5% |
| 2024 | +4.1% | -25.3% |
| 2025 | +21.3% | +88.4% |
| 2026 | -14.9% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLM and NRT good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MLM and NRT?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.24 over the last year and 0.00 over 5 years.
Is NRT a good diversifier for MLM?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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
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Related comparisons
Hubs: MLM correlations · NRT correlations
