NRT vs SYK: Correlation
Measured on weekly returns over the past three years, North European Oil Royality Trust (NRT) and Stryker Corporation (SYK) 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 NRT and SYK?
Across a 3-year window, the weekly returns of NRT and SYK correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -230.9 %².
Among the 62 assets we track against NRT, SYK ranks #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRT ahead by 102.4 points (+85.2% versus -17.2%). Note the risk asymmetry: NRT runs 2.4 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.
NRT vs SYK: side by side
| NRT (North European Oil Royality Trust) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +85.2% | -17.2% |
| 5-year return | +131.5% | +23.8% |
| Volatility (ann.) | 51.6% | 21.5% |
| Beta vs S&P 500 | -0.42 | 0.61 |
| Max drawdown (3Y) | -66.1% | -29.4% |
| Market cap | $0.1B | $123.6B |
| P/E (trailing) | 8.4 | 34.1 |
| Dividend yield | 11.95% | 1.06% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | NRT | SYK |
|---|---|---|
| 2022 | +41.9% | -7.4% |
| 2023 | -46.5% | +23.8% |
| 2024 | -25.3% | +21.3% |
| 2025 | +88.4% | -1.5% |
| 2026 | +41.9% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and SYK good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRT and SYK?
The NRT/SYK correlation stands at -0.21 on a 3-year window (1 year: -0.20, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is SYK a good diversifier for NRT?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrt-vs-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nrt-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRT correlations · SYK correlations
