NRT vs PMEC: Correlation
How closely do North European Oil Royality Trust (NRT) and Primech Holdings Ltd. (PMEC) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRT and PMEC?
Across a 3-year window, the weekly returns of NRT and PMEC correlate at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.28). Stretching to 5 years gives n/a, with an annualized covariance of -1492.2 %².
PMEC is close to the least connected end of NRT's tracked universe, ranking #61 of 62. The last year tells two different stories: NRT led by 149.7 percentage points, +85.2% for NRT against -64.5% for PMEC. One caveat on sizing: PMEC is 2.0 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.
NRT vs PMEC: side by side
| NRT (North European Oil Royality Trust) | PMEC (Primech Holdings Ltd.) | |
|---|---|---|
| 1-year return | +85.2% | -64.5% |
| 5-year return | +131.5% | n/a |
| Volatility (ann.) | 51.6% | 103.1% |
| Beta vs S&P 500 | -0.42 | 0.88 |
| Max drawdown (3Y) | -66.1% | -89.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 11.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRT | PMEC |
|---|---|---|
| 2022 | +41.9% | – |
| 2023 | -46.5% | – |
| 2024 | -25.3% | -71.9% |
| 2025 | +88.4% | +51.1% |
| 2026 | +41.9% | -48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and PMEC good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NRT and PMEC?
As of 2026-08-27, the correlation of weekly returns between NRT and PMEC is -0.28 over 3 years, -0.13 over 1 year and n/a over 5 years.
Is PMEC a good diversifier for NRT?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrt-vs-pmec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrt-vs-pmec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NRT correlations · PMEC correlations
