NPO vs RVT: Correlation
Measured on weekly returns over the past three years, Enpro Inc. (NPO) and Royce Small-Cap Trust, Inc. (RVT) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPO and RVT?
Across a 3-year window, the weekly returns of NPO and RVT correlate at 0.67, strong. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.67). Stretching to 5 years gives 0.64, with an annualized covariance of 437.7 %².
Within NPO's tracked universe of 25 assets, RVT comes in at #4 by 3-year correlation. The trailing year gives NPO the advantage: +37.1% versus +27.4%, a 9.7-point spread. Note the risk asymmetry: NPO runs 1.8 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.
NPO vs RVT: side by side
| NPO (Enpro Inc.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +37.1% | +27.4% |
| 5-year return | +270.5% | +53.9% |
| Volatility (ann.) | 34.4% | 19.1% |
| Beta vs S&P 500 | 1.27 | 0.99 |
| Max drawdown (3Y) | -33.7% | -23.5% |
| Market cap | $6.5B | $2.3B |
| P/E (trailing) | 149.1 | 6.5 |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPO | RVT |
|---|---|---|
| 2022 | -0.2% | -26.3% |
| 2023 | +45.6% | +18.8% |
| 2024 | +10.9% | +17.9% |
| 2025 | +25.0% | +11.5% |
| 2026 | +44.5% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPO and RVT good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NPO and RVT?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.46 over the last year and 0.64 over 5 years.
Is RVT a good diversifier for NPO?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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
$ curl https://www.pairbook.io/api/v1/pairs/npo-vs-rvt.json
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[](https://www.pairbook.io/pair/npo-vs-rvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NPO correlations · RVT correlations
