NLOP vs RMCO: Correlation
Measured on weekly returns over the past three years, Net Lease Office Properties (NLOP) and Royalty Management Holding Corporation (RMCO) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NLOP and RMCO?
Across a 3-year window, the weekly returns of NLOP and RMCO correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.21 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -725.8 %².
Within NLOP's tracked universe of 17 assets, RMCO comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RMCO outperformed by 38.6 percentage points (+8.0% for NLOP against +46.6% for RMCO). Note the risk asymmetry: RMCO 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.
NLOP vs RMCO: side by side
| NLOP (Net Lease Office Properties) | RMCO (Royalty Management Holding Corporation) | |
|---|---|---|
| 1-year return | +8.0% | +46.6% |
| 5-year return | n/a | -70.7% |
| Volatility (ann.) | 39.2% | 87.1% |
| Beta vs S&P 500 | 0.18 | 0.25 |
| Max drawdown (3Y) | -46.0% | -93.2% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NLOP | RMCO |
|---|---|---|
| 2022 | – | -0.4% |
| 2023 | – | -83.0% |
| 2024 | +68.9% | -41.3% |
| 2025 | +5.9% | +211.1% |
| 2026 | +8.5% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NLOP and RMCO good diversifiers for each other?
Yes. With a correlation of -0.21, NLOP and RMCO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NLOP and RMCO?
The NLOP/RMCO correlation stands at -0.21 on a 3-year window (1 year: -0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RMCO a good diversifier for NLOP?
Yes. With a correlation of -0.21, NLOP and RMCO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: NLOP correlations · RMCO correlations
